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Sarine Tiffany
LVMH Scraps Tiffany Deal; Tiffany Sues
LVMH has abandoned its acquisition of Tiffany & Co., citing a trade dispute between the US and France and a disagreement over the timing of the deal.Tiffany has sued LVMH in response, claiming that the luxury...
Retail Sep 09, 2020 Rapaport News
James Allen
Signet to Expand James Allen In-Store Format
Signet Jewelers plans to have James Allen e-commerce displays in 80 of its Jared locations this holiday season following a successful trial of the store-in-store concept. “Given positive sales results and strong traffic gains, we plan to expand...
Retail Sep 08, 2020 Rapaport News
Signet Kay Florida store shut during Covid-19
Signet Sales Better Than Expected
Signet Jewelers’ revenue and profit beat expectations in the second fiscal quarter as stores unlocked their doors and the retailer upgraded its digital capabilities.“Sales improved sequentially throughout the second quarter as we reopened stores...
Retail Sep 03, 2020 Rapaport News
Tiffany
Tiffany Sees Glimmer of Hope as Profit Slumps
Tiffany & Co. reported a sharp decline in profit in the second fiscal quarter but noted sales have returned to pre-pandemic levels in August. “Our global sales trends have strengthened in August, with preliminary month-to-date worldwide...
Retail Aug 27, 2020 Rapaport News
SK lab grown diamonds
SK Jewellery Sees Profit Slump
Singapore-based SK Jewellery Group reported a sharp drop in earnings during the first half of 2020 as store closures and other restrictions implemented during the coronavirus pandemic impacted sales. Net profit fell 81% to SGD 514,000...
Retail Aug 18, 2020 Rapaport News
Birks Group
Birks Could Face Delisting After Losses
The New York Stock Exchange (NYSE) has told Birks Group it is no longer compliant with its listing rules, after the Canadian jeweler incurred losses for four consecutive fiscal years.NYSE American, the exchange’s...
Retail Aug 17, 2020 Rapaport News
Retail shopper
US Retail Sales Increase in July
US retail sales recorded their third consecutive rise in July, government data showed, as stores gradually resumed operations and devised ways of serving customers during the pandemic.Revenues of $536 billion for the month were 1.2%...
Retail Aug 16, 2020 Rapaport News
Alrosa rough
Alrosa Expects October Recovery
Alrosa has predicted a return to pre-pandemic rough sales levels in October, observing a promising combination of midstream shortages and growing retail demand. Executives made the forecast Friday following the release of the miner’s second-quarter results,...
Mining Aug 16, 2020 Rapaport News
Shelby Sterrett Fana
Jewelry Brand Fana Names Sales Specialists
Fana, a New York-based bridal and fine-jewelry brand, has appointed three senior staff members to shore up its sales operations and interactions with retail partners.Shelby Sterrett, who joined the company in February, will lead...
Retail Aug 13, 2020 Rapaport News
Forevermark diamond ring
Diamonds High on Holiday Gift Lists
Consumers are showing strong interest in buying diamonds for their loved ones this holiday season, seeing a need to give something special following an uncertain year, according to a survey by De Beers.In the US, almost 60% of men...
Retail Aug 11, 2020 Rapaport News
Rich Shatz
Estate Jewelry Proves Robust During Covid-19
The estate-jewelry sector has fared well during the Covid-19 crisis as customers have continued to show interest in designer goods, dealer Rick Shatz told the Jewelry Connoisseur Podcast.Higher-end clients — on whom the pandemic has...
Retail Aug 06, 2020 Rapaport News
HK skyline
Hong Kong Retail Takes ‘Austere’ Turn
Hong Kong’s retail market took a turn for the worse this month amid the coronavirus’s resurgence, reversing a slight improvement in June, the government cautioned Thursday.The municipality has entered a third wave of infections, prompting...
Retail Jul 30, 2020 Rapaport News
Jewelry store display
Mom-and-Pop Stores Doing OK – for Now
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...
Retail Jul 22, 2020 Joshua Freedman
A Titan store in Deoghar, Jharkhand.
Titan Sales Slump as Lockdown Hits India
Revenue at Titan Company dropped sharply in the past two months during India’s coronavirus lockdown, but the jewelry retailer noted encouraging signs as restrictions eased.Jewelry sales fell more than 80% year on year in May...
Retail Jul 09, 2020 Rapaport News
Back in business
Jewelers See Positive Signs as Business Restarts
Times are hard for luxury in general, and jewelry in particular. In a recent survey by McKinsey & Company, jewelry was one of the luxury products consumers were most willing to forgo post-Covid-19, considering the financial crisis...
Retail Jul 02, 2020 Leah Meirovich
Podcast June 2020
Podcast: How Covid-19 Will Transform Stores
The coronavirus has forced retailers into new ways of doing business. In this webinar, Rapaport Editor in Chief Sonia Esther Soltani and Elle Hill, CEO of jewelry consultancy firm Hill & Co., discuss the...
Retail Jun 14, 2020 Rapaport News
Chow Tai Fook
Chow Tai Fook Sees Dim Hong Kong Outlook
Chow Tai Fook expects sales in Hong Kong to remain weak after reporting a sharp slump in revenue and profit due to the coronavirus. Consumer demand was slow in the municipality in April and May as tourists stayed...
Retail Jun 11, 2020 Rapaport News
Tiffany China  store 150
Tiffany Sees ‘Robust Recovery’ in China
Tiffany & Co. reported a strong rebound in its operations in mainland China during April and May, after Covid-19 lockdowns resulted in heavy first-quarter losses for the jeweler. “While sales in key markets like the...
Retail Jun 09, 2020 Rapaport News
Gabrielle Grazi
Natural Diamond Council Hires Retail VP
Gabrielle Grazi has joined the Natural Diamond Council (NDC) as its vice president for retail following seven years at Signet Jewelers.The newly created role involves establishing the NDC as the natural-diamond authority among...
Marketing Jun 08, 2020 Rapaport News
Tiffany Toronto store
LVMH-Tiffany Deal Faces Uncertainty
The LVMH board met on Tuesday to discuss its takeover of Tiffany & Co., fueling rumors that the $16.2 billion deal was less certain than before Covid-19.The panel of directors “focused its attention on the...
Retail Jun 04, 2020 Rapaport News
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