Headlines

Major Jewelry Companies Report Sales Declines

Published

9 years ago

August 26, 2016

Political uncertainty is a possible reason for the drop.

Stagnant oil prices, political uncertainty and a strong U.S. dollar are among possible reasons for a decline in jewelry sales, The Wall Street Journal reports, citing sales declines recently reported by Tiffany & Co. and Signet Jewelers Ltd., which owns the Kay Jewelers, Zales and Jared chains. The article says Signet doesn’t attribute the drop to allegations that diamonds have been swapped out for lesser-quality stones at Kay. Meanwhile, Tiffany depends on foreign tourists, who are spending less because of the strong dollar. Quarterly revenue is down 5.9 percent, to $931.6 million, and at Signet it’s down 2.6 percent, to $1.37 billion.

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.