RapNet


Rapaport News

 

Retail

 

Advanced search
Latest Articles
Videos
Features
News
Mining
Rough Markets
Polished Markets
Manufacturing
Retail

U.S. Jewelry Trade Shrinks in 2016

Feb 2, 2017 4:58 AM   By Rapaport News
Print Print Facebook Facebook Twitter Twitter Share Share


RAPAPORT...
The number of jewelry businesses operating in the U.S. fell 6 percent last year as more than 1,000 retailers closed down or merged with competitors.

The drop took the total number of U.S. firms listed by the Jewelers Board of Trade (JBT) to 26,725 at the end of 2016, the industry association said.

The number of businesses that ceased operations – meaning their closure was not due to financial failure or a merger – leapt 63 percent to 1,518 during the year. Cases of consolidation, including mergers or takeovers, increased 3.5 percent to 118. Meanwhile, there were just 33 bankruptcies during the year, a 15 percent decline from 2015.

Within the jewelry trade, the manufacturing sector contracted at the highest rate, with total closures more than doubling to 150 from 59 in the previous year. Terminations in the wholesale segment jumped 85 percent to 250, while the number of jewelry retailers that closed increased 43 percent to 1,269, JBT reported.
Tags: bankruptcies, consolidation, jewelers board of trade, Jewelry, Jewelry Business Closures, mergers, Rapaport News, takeovers
Similar Articles
Pandora Minnie charm 140Pandora Flags Concerns as More Stores Shut
Jan 12, 2021
Pandora has warned it is uncertain how the escalation in Covid-19 cases...
New Book Reports Favorable Forecast for Luxury
Chow Tai Fook Sales Rise as China Recovers
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First



Call Us: 1-702-893-9400
Member License Agreement   RapNet Trading Rules & Code of Conduct    Privacy Policy  
  
twitter twitter
About Rapaport
Advertise with us