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US Retail Sales Fall Amid Covid-19 Spike
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US retail sales struck a disappointing note in November due to an uptick in coronavirus cases and the lack of a second government stimulus package.Revenues fell 1.1% month on month to $546.5 billion, though they were still 4.1% higher than...
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Retail
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Dec 17, 2020
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Rapaport News
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Signet Sales Jump as Holidays Start Early
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Signet Jewelers saw its first quarterly sales increase in two years as innovations helped the company capitalize on a release of pent-up demand and early holiday shopping.Revenue rose 9.5% year on year to $1.3 billion for the...
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Retail
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Dec 03, 2020
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Joshua Freedman
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Tiffany Profit Soars as China Recovers
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Tiffany & Co. reported a sharp jump in profit in the third fiscal quarter as sales in China surged and consumer spending shifted to higher-margin items.Net earnings rose 52% to $119 million in the three months ending October...
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Retail
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Nov 24, 2020
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Rapaport News
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Making the Most of the Holidays
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It’s been a tumultuous year, and the upcoming holiday forecast has not eased concerns. Although sales are still expected to increase over last year, the margin is slim, according to AlixPartners. The consulting firm...
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Retail
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Nov 23, 2020
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Lara Ewen
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India Rushes to Meet US Holiday Demand
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Indian diamond manufacturers are planning a curtailed Diwali break as they scramble to fulfill US holiday orders amid a shortage of polished.Factories will shut for five to 12 days instead of the usual two to three weeks, aiming to offset months...
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Manufacturing
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Oct 22, 2020
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Joshua Freedman
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Signet Raises Forecast Following Strong Holiday
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Sales at Signet Jewelers increased during the holiday season, prompting the retailer to raise its full-year outlook.Same-store sales — at branches open for at least a year — increased 1.6% for the nine weeks ending January 4, while...
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Retail
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Jan 16, 2020
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Rapaport News
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Tiffany Holiday Revenue Rises as US Recovers
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Tiffany & Co. noted a “momentum shift” in the Americas during the holidays, as growth in the region contributed to an overall increase in sales for the season.Company-wide revenue climbed by 1% to 3% year on year for the period from November...
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Retail
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Dec 26, 2019
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Rapaport News
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Podcast: Good Holiday, Bad Holiday
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The first Rapaport Diamond Podcast Short looks at theholiday season just gone, following a mixed bag of sales results from themajors.Signet Jewelers and Tiffany & Co. both reported a dropin revenues for the crucial...
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Retail
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Jan 22, 2019
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Rapaport News
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Weakness in Low-Value Stones Hits Stornoway
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Stornoway Diamond Corporation’s sales fell in the finalthree months of last year as weakness in the Indian market dented prices oflower-value rough from its Renard mine in Canada. Fourth-quarter proceeds dropped 35% to CAD 32.1 million($24.2...
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Mining
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Jan 20, 2019
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Rapaport News
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Fine Jewelry a Bright Spot for Macy’s
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Macy’s noted strong sales of higher-end jewelry during theholiday season, though lower-priced items were weaker. Fine jewelry was one of seven categories the retailerhighlighted for their positive performances during November and December.However,...
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Retail
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Jan 10, 2019
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Rapaport News
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Jewelers Upbeat About January Sales
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Whoever considered the holiday season over might need tothink again: Many jewelers are seeing just as much business during January asthey witnessed during the Christmas period, if discussions on a popularsocial-media forum are anything...
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Retail
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Jan 09, 2019
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Rapaport News
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Now’s Too Late to Start Courting Retailers
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Will the holiday season bring joy to wholesalers andmanufacturers? Traditionally, the industry looks to the fourth quarter to turna profit, but some are taking a longer view in hopes of making the holidayspart of a 12-month business.“All barometers...
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Retail
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Nov 26, 2018
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Joyce Kauf
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Tiffany Restores Growth in Strong Holiday Season
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Tiffany & Co’s sales jumped 8% during the holidayseason amid a sharp improvement in US demand and a recovery in Asian markets,the luxury jeweler reported. Group sales grew to $1.05 billion during November andDecember, with comparable-store sales...
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Retail
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Jan 17, 2018
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Rapaport News
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Signet Holiday Sales Disappoint
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Signet Jewelers’ holiday sales fell 3% as issues relating to outsourcing its credit transactions adversely impacted the business. Signet in October sold its prime credit program to Alliance Data Systems for $960 million, meaning that...
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Retail
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Jan 10, 2018
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Rapaport News
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Jewelry Shines in Upbeat US Holiday Season
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Jewelry sales grew 6% this holiday season, in large partdriven by last-minute purchases, according to a Mastercard SpendingPulse surveypublished Tuesday.Total retail sales grew 4.9% during the holiday shoppingperiod between November 1 and December 24, the largest...
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Retail
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Dec 27, 2017
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Rapaport News
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Mobile-Savvy Millennials Drive Cyber Monday Jump
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Cyber Monday sales rose to record levels this year, with millennial consumers driving growth through transactions on their mobile devices, according to Adobe Digital Insights. Sales rose 17% to $6.59 billion as at 10 p.m. EST on the...
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Retail
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Nov 30, 2017
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Rapaport News
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Tiffany Collection Puts Eggs in $10K Basket
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A ball of yarn for $9,000, a $5,700 water pitcher and a$1,000 tin can are just some of the everyday items Tiffany & Co. is sellingas part of a new home-and-accessories collection.The move is the luxury jeweler’s latest...
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Retail
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Nov 09, 2017
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Rapaport News
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Tiffany Unveils New York Pop-Up Stores
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Tiffany & Co will open small-scale stores in two key NewYork locations in time for the holiday season, as the luxury jeweler targets tourists to boost lagging sales. The concept stores will open in RockefellerCenter and...
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Retail
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Oct 30, 2017
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Rapaport News
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NRF Reports Some Holiday Cheer
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Holiday retail sales rose 4 percent driven by anaccelerated economic recovery even as certain large chain stores reported lowertraffic, according to separate reports from the National Retail Federation (NRF) andMasterCard.The NRF said total U.S....
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Retail
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Jan 16, 2017
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Rapaport News
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Birks Holiday Sales Defy U.S. Jewelry Dip
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Birks Group reported comparable-store sales grew 11 percent in a record holiday season for the retailer as the average spend per shopper rose and agreater proportion of store visits translated into purchases.Comparable-store sales jumped 16 percent...
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Retail
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Jan 15, 2017
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Rapaport News
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