That's an increase from first-quarter 2017.
The Jewelers Board of Trade reported that 282 U.S. jewelry retailers closed their doors in the first quarter of 2018.
That number represented an increase from 250 closings in the first quarter of 2017.
The total included 241 retailers in the category of "ceased operations" as well as 36 "consolidations (sale/merger)" and five bankruptcies.
The total number of U.S. jewelry businesses that closed, including retailers, wholesalers and manufacturers, was 343. That was an increase from 318 in the first quarter of 2017.
Meanwhile, JBT reported that 45 new retailers opened their doors in the U.S., up from 37 in the first quarter of 2017.
The total number of new jewelry businesses, including retailers, wholesalers and manufacturers, was 62. That was up from 46 new businesses in the year-ago quarter.
JBT listed a total of 19,385 jewelry retailers in the U.S. as of the first quarter of 2018, down from 20,214 in the same quarter a year ago.
The group listed 25,667 jewelry businesses in all, including retailers, wholesalers and manufacturers. That was down from 26,808 in the first quarter of 2017.
JEWELER SUCCESS STORIES
“Halfway Through the Sale, We Already Did a Year’s Worth of Volume”
Torin Bales says he was “blown away” by Wilkerson’s results after the company ran his retirement sale. “When you hire a consultant, you have to let them take control,” says the Texas retailer. After all, if you’re like most jewelers, you only retire once. Get the maximum return on your life’s investment. Turn to Wilkerson & Associates and let your new life begin!