Connect with us

Headlines

Fewer Jewelry Stores Closed in the First Quarter

mm

Published

on

Both closures and new openings were down.

The Jewelers Board of Trade reported that 250 U.S. jewelry retailers closed their doors in the first quarter of 2017.

That number represented a nearly 13 percent decrease from 286 closings in the first quarter of 2016.

The total included 217 retailers in the category of “ceased operations” as well as 30 “consolidations (sale/merger)” and three bankruptcies.

The total number of U.S. jewelry businesses that closed, including retailers, wholesalers and manufacturers, was 318. That was a 16 percent decrease from 380 in the first quarter of 2016.

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

JBT reported that 37 new retailers opened their doors in the U.S., down 35 percent from 57 in the first quarter of 2016.

Advertisement

The total number of new jewelry businesses, including retailers, wholesalers and manufacturers, was 46. That represented a 37 percent drop from 73 new businesses in the year-ago quarter.

JBT listed a total of 19,969 jewelry retailers in the U.S. as of the first quarter of 2017, down 5.5 percent from the same quarter a year ago.

The group listed 26,493 jewelry businesses in all, including retailers, wholesalers and manufacturers. That was down 6 percent from the first quarter of 2016.

Continue Reading
Advertisement

SPONSORED VIDEO

Wilkerson Testimonials

Retirement Made Easy with Wilkerson

The store was a landmark in Topeka, Kansas, but after 80 years in business, it was time for Briman’s Leading Jewelers to close up shop. Third generation jeweler and owner Rob Briman says the decision wasn’t easy, but the sale that followed was — all thanks to Wilkerson. Briman had decided a year prior to the summer 2020 sale that he wanted to retire. With a pandemic in full force, he had plenty of questions and concerns. “We had no real way to know if we were going to be successful or have a failure on our hands,” says Briman. “We didn’t know what to expect.” But with Wilkerson in charge, the experience was “fantastic” and now there’s plenty of time for relaxing and enjoying a more secure retirement. “I would recommend Wilkerson to any retailer considering a going-out-of-business sale,” says Briman. “They’ll help you reach your financial goal. Our experience was a tremendous success.”

Promoted Headlines

Most Popular