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Podcast: Cash, Credit and Covid-19
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The coronavirus crisis has split US jewelers into haves and have-nots, Jewelers Board of Trade (JBT) president Erich Jacobs told the Rapaport Diamond Podcast.Digital-savvy businesses have thrived while less advanced competitors — or those...
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Financial-Legal
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Oct 20, 2020
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Joshua Freedman
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Jewelry Trade Continues to Shrink
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The US jewelry industry continued to downsize in the third quarter, with 101 companies leaving the business, according to new data from the Jewelers Board of Trade (JBT).Nine firms went bankrupt, while 37 dropped out due...
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Retail
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Oct 18, 2020
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Rapaport News
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Mom-and-Pop Stores Doing OK – for Now
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Independent US jewelers have weathered the Covid-19 crisis well, but face a serious challenge if the pandemic persists, according to Jewelers of America (JA) CEO David Bonaparte.“Mainstream mom-and-pop retail jewelers, especially the ones that are...
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Retail
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Jul 22, 2020
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Joshua Freedman
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Jewelers See Worst Quarter for Credit Downgrades
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The Jewelers Board of Trade (JBT) reduced companies’ credit scores at an “unprecedented” rate in the second quarter as businesses missed payments during the Covid-19 crisis.Many jewelers that bought on terms of 90 days or less before the pandemic...
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Financial-Legal
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Jul 22, 2020
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Joshua Freedman
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JBT Appoints New Chairman
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The Jewelers Board of Trade (JBT) has chosen Ann Arnold, chief strategy officer for Buyers Intelligence Group (BIG), to head its board of directors.Arnold, who was appointed at the company’s April 30 board meeting, has...
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Retail
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May 21, 2020
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Rapaport News
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Jewelry Trade Shrinks 4% in First Quarter
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The number of jewelry businesses operating in the US fell 4.2% year on year to 24,280 in the first quarter as exits from the industry more than doubled, according to data from the Jewelers Board of Trade (JBT).The number...
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Financial-Legal
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Apr 20, 2020
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Rapaport News
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JBT Chief Predicts Rise in Bankruptcies
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Earlier this month, the Jewelers Board of Trade (JBT) said it would issue two parallel ratings in its company credit reports to show the effect of COVID-19 on liquidity. In an April 6 interview with Rapaport News, Erich Jacobs,...
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Financial-Legal
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Apr 20, 2020
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Joshua Freedman
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JBT Amends Credit Reports to Account for COVID-19
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The Jewelers Board of Trade (JBT) will issue two parallel credit ratings for companies during the current crisis to reflect the impact of the shutdown on cash flow.The organization’s credit reports, which score jewelers’...
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Retail
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Apr 07, 2020
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Rapaport News
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US Trade Continues to Downsize
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The US jewelry industry contracted in 2019 as the number of businesses closing shop continued to exceed new entrants.The sector shrank 3.3% to 24,565 companies active in the fourth quarter, compared with 25,400 a year earlier, according to data...
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Retail
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Jan 20, 2020
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Rapaport News
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Revamping the Retail Experience
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For Andrea Hansen, a Blue Nile ad that ran during the 2015 holiday season perfectly captures the problem with jewelry retail. In it, a young man is looking at engagement rings through the window of a mom-and-pop store...
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Retail
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Jan 02, 2020
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Jennifer Heebner
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Jewelry Businesses Closing at Higher Rate
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The US jewelry trade contracted in the third quarter, withthe rate of downsizing gaining speed after a slowdown over the past few months,data from the Jewelers Board of Trade (JBT) revealed. In the three months ending...
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Retail
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Oct 22, 2019
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Rapaport News
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Trade Bodies Relaunch Cost of Business Survey
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Jewelers of America (JA) has partnered with the Jewelers Board of Trade (JBT) to launch the Retail Jewelers Benchmarking Study, replacing the JA’s Cost of Doing Business Survey last published in 2015. The resulting report...
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Retail
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Sep 05, 2019
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Rapaport News
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JBT Names New President
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The Jewelers Board of Trade (JBT) has appointed Erich Jacobspresident. He will succeed Richard Weisenfeld, who is retiring. Jacobs joined JBT in 2018 as vice president of informationtechnology, JBT said lastweek. Weisenfeld first became acting presidentin...
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Polished Markets
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Aug 20, 2019
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Rapaport News
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Jewelry Business Closure Rate Drops
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The US jewelry trade contracted in the secondquarter, but the rate of downsizing has slowed, datafrom the Jewelers Board of Trade (JBT) revealed. In the three months ending June 30, 185 jewelry businessesexited the market,...
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Retail
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Jul 21, 2019
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Rapaport News
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Jewelry Business Closure Rate Slows
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The US jewelry trade continued to downsize in the first quarter, albeit at a slower pace than in previous years, data from the Jewelers Board of Trade (JBT) revealed. The number of jewelry businesses exiting the market dropped64%...
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Retail
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Apr 22, 2019
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Rapaport News
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US Jewelry Trade Continues to Shrink
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The US jewelry industry downsized further last year, as bankruptciesand closures outnumbered new arrivals to the sector, the Jewelers Board ofTrade (JBT) reported. The number of businesses on the JBT’s books fell 4.4% to25,102 in 2018,...
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Retail
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Jan 17, 2019
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Rapaport News
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US Jewelry Trade Shrinks by Nearly 5%
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The US jewelry industry contracted again in the thirdquarter as more businesses left the sector than joined it, according to theJewelers Board of Trade (JBT). The number of recorded jewelry businesses fell 4.7% versusthe same period...
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Retail
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Oct 21, 2018
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Rapaport News
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133 Jewelers Join Sector in First Half
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The number of new jewelry businesses in the US jumped 87% inthe first half of the year, even as the industry continued to shrink overall. A total of 133 companies entered the sector in the sixmonths to June 30, compared...
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Polished Markets
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Jul 19, 2018
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Rapaport News
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Jewelry Businesses Continue to Shutter
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The US jewelry trade has shrunk 4% since a year ago, accordingto data from the Jewelers Board of Trade (JBT). A total of 25,667 businesses were in operation in the firstquarter of this year, 1,141 fewer than in the same...
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Retail
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Apr 26, 2018
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Rapaport News
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JBT Makes President’s Post Official
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The Jewelers Board of Trade (JBT) has appointed RichardWeisenfeld as president, the industry group said Friday. Weisenfeld (pictured), who previously held executive positions at RivaPrecision Manufacturing, as well as at Pranda North America, has been actingpresident...
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Polished Markets
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Mar 25, 2018
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Rapaport News
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