Diamond Shavings: Your Friday Web Roundup

Sorry to lead off with so much gloomy news, but … well …

Holiday 2007 Results: Superbad.

- Signet: US comp sales down 8.1%, worldwide comps down 6.8%.

[Heard conference call: Journey, larger diamonds did well, Circle, three-stone weak. Jared did better than mall stores. “Marco” environment blamed.  Company may list in U.S.]

- Zale: Comp sales down 9%.

- Finlay: Comp sales down 5.9%   Credit rating cut.

- Tiffany: US comp sales down 2%, worldwide comps up 1%.  Transcript.

- Birks and Mayors: US comp sales down 10%, Canadian comps down 5%.

- Jewelry weak at Target, Costco, JC Penney, strong at Saks, Neiman Marcus.

- Reuters: Jewelry sales lackluster.

Holiday 2007 Aftermath: There Will Be Blood.

- Majors slash jewelry prices.
- Jewelry and retail stocks fall.

- Derco creditor list. (Second item.)

- Indian company goes under.

- Alpha Omega’s inventory’s missing.

If all that wasn’t depressing enough ….

- NY Post predicts “miserable” 2008 for retail.

- The U.S. may be in, or heading towards, a recession. Happy New Year! 

Breeden increases Zale stake again!

- Analysis from Ken Gassman and GLG Group.

- NY Post: Breeden wants “proxy fight.”

- My thoughts. 

DTC raises prices 3.5%.
- Gold prices top $900.

Who’s Down With BPP?

- Six sightholders suspended for BPP violations: polishedprices, Idex, Rapaport.

- Chaim: More, please!  Wyndham: "Hypocrisy."

- My thoughts (second item.)

“Blood diamond” testimony begins Charles Taylor trial. (With interview.)

Former De Beers director/Debswana MD charged with corruption.

- Debswana investigated?

- Botswana’s success shows “strains.”

Gitanjali acquires Nakshatra, Brightest Circle Jewelry.

Do Zimbabwe diamonds fund terrorism?

Jewelry Television closes Shop at Home.

Will industry ditch the dollar?

Canadian diamond find sparks “frenzy.”

- South African “diamond rush.”

Sierra Leone diamond exports rise.

Heist at Macau fair.

Hope Diamond’s red glow explained.

It’s a very very very fine house: Leviev’s new digs.

- Photos: Gold-plated hot tub! $100k fireplace! Near Ringo and the Bee Gees!

Media Watch:

- Good story on ice.com

- TheStreet.com (video) on gold “scams.”

- The AP on gold prices (includes visit to 47^th Street.)

- Smartmoney on Blue Nile’s stock.

- Sfist: Is Mayor’s ring “blood diamond”?  Or: Why it must be annoying to be the Mayor of San Francisco.

From the Blog:
The Sightholder Saga Continues
In the Spotlight: Zale, Derco
Conflict Diamonds Again in the News

Have a nice 24-Karat weekend …. Perhaps I’ll see some of you during it  …