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.
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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.
Four Decades of Excellence: How Wilkerson Transformed a Jeweler's Retirement into Celebration
After 45 years serving the Milwaukee community, Treiber & Straub Jewelers owner Michael Straub faced a significant life transition. At 75, the veteran jeweler made a personal decision many business owners understand: "I think it's time. I want to enjoy my wife with my grandchildren for the next 10, 15 years."
Wilkerson's expertise transformed this major business transition into an extraordinary success. Their comprehensive approach to managing the going-out-of-business sale created unprecedented customer response—with lines forming outside the store and limits on how many shoppers could enter at once due to fire safety regulations.
The results exceeded all expectations. "Wilkerson did a phenomenal job," Straub enthuses. "They were there for you through the whole thing, helped you with promoting it, helping you on day-to-day business. I can't speak enough for how well they did." The partnership didn't just facilitate a business closing; it created a celebratory finale to decades of service while allowing Straub to confidently step into his well-earned retirement.
