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Jewelry-Store Closures Are Decreasing

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Closures are down, but so are openings.

The Jewelers Board of Trade reported that 195 U.S. jewelry retailers closed their doors in the second quarter of 2017.

That number represented a significant decrease — 42 percent — from 337 closings in the second quarter of 2016.

The total included 154 retailers in the category of “ceased operations” as well as 34 “consolidations (sale/merger)” and seven bankruptcies.

The total number of U.S. jewelry businesses that closed, including retailers, wholesalers and manufacturers, was 235. That was a 49 percent decrease from 460 in the first quarter of 2016.

The number of new jewelry businesses also decreased in the second quarter.

JBT reported that 22 new retailers opened their doors in the U.S., down from 60 in the second quarter of 2016.

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The total number of new jewelry businesses, including retailers, wholesalers and manufacturers, was 25. That was down from 81 new businesses in the year-ago quarter.

JBT listed a total of 19,920 jewelry retailers in the U.S. as of the second quarter of 2017, down from 20,943 in the same quarter a year ago.

The group listed 26,396 jewelry businesses in all, including retailers, wholesalers and manufacturers. That was down from 27,830 in the second quarter of 2016.

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Alex and Gladys Rysman are the third generation to run Romm Jewelers in Brockton, Mass. And after many decades of service to the industry and their community, it was time to close the store and take advantage of some downtime. With three grown children who each had their own careers outside of the industry, they decided to call Wilkerson. Then, the Rysmans did what every jeweler should do: They called other retailers and asked about their own Wilkerson experience. “They all told us what a great experience it was and that’s what made us go with Wilkerson.” says Gladys Rysman. The results? Alex Rysman says he was impressed. “We exceeded whatever I expected to do by a large margin.”

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