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TOP STORIES

'Disappointing' Sales for Sterling, Zale
The nation’s two largest retail jewelry chain operators—Sterling Jewelers Inc. and Zale Corp., with 3,600 stores between them—on Jan. 10 posted what their chief executives each called “disappointing” sales results for the 2007 holiday sale season. Each cited “challenging” retail market conditions. » » »

Tiffany Reports 'Mixed' Results
Tiffany & Co. reported that its worldwide sales for the Nov. 1 – Dec. 31, 2007, holiday period increased 8 percent over the prior year to $867.2 million. On a constant-exchange-rate basis, which excludes the effect of translating foreign-currency-denominated sales into U.S. dollars, net sales rose 6 percent and worldwide same-store sales rose 1 percent. » » »


Finlay Holiday Same-Store Sales Down 6%
Finlay Enterprises, Inc. said Thursday that same-store sales for Finlay Fine Jewelry Corp., its wholly owned subsidiary, dropped 5.9 percent for the November-December holiday period. Sales for the two-month period increased 26.9 percent to $349.1 million, year-over-year. » » »

Report: Inventory Missing at Alpha Omega
About $6.6 million worth of inventory is missing from the Alpha Omega watch and jewelry chain, according to a complaint filed in Suffolk Superior Court by the high-end retail chain's chief creditor. » » »

Gold Prices Top $900
Gold futures rose above $900 an ounce for the first time Friday, according to media reports. » » »

From Our Blogs

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.]
Read On »
Customer Watch: A Study of Contrasts
While colorful florals are a key fashion trend this spring (can’t you just hear Miranda Priestly snarling at her editorial staff: “Florals… for spring… groundbreaking”), there is, as usual, a countervailing trend for women who can’t see themselves wrapped in posies...
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Tucson Countdown #9 – Making “The List.”
With gem shows at over 40 different venues again this year, it is literally impossible to see everything - even if you plan to be there for two or more weeks. (Been there, done that, completely wore me out by day 11.) It’s just too big to cover it all. All the more reason to make a list before you get there of: 1.) people to see, 2.) events to attend, 3.) seminars to attend, 4.) breakfasts, 5.) lunches, and 6.) dinners to plan, and, of course, 7.) gems to buy. With a list, you will be organized, efficient with your time, and generally less stressed than trying to wing it while you are there. (Been there, done that too.)...
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Putting Out Pre-Owned Jewelry
Being a licensed buyer—I buy loose diamonds from the public whenever I can. Every once in awhile I purchase a diamond in a mounting that is beautiful and I find that it can be easily resold—here comes the ethics question:...
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MORE INDUSTRY NEWS

December Department Store Roundup
Luxury department stores managed to hold their own with single-digit increases for the month of December. Those stores that cater to middle-class shoppers saw sales declines during the important holiday season month. » » »

December Chain Store Sales Soft
December same-store sales grew by 0.9 percent on a year-over-year comparison with the same month of 2006 for U.S. chain stores, according to the International Council of Shopping Centers, Inc. » » »

Wal-Mart December Same-Store Sales Up 2.4%
Wal-Mart Stores Inc. on Thursday reported a 2.4 percent rise in U.S. same-store sales in December, as customers flocked to its stores for cheap groceries. » » »

Eleanore Papp Weiner of Leeds & Son, 85
Eleanore Papp Weiner, the woman who co-founded Leeds & Son in the Coachella Valley of California more than 60 years ago, passed away Tuesday in Rancho Mirage. She died peacefully surrounded by her children and grandchildren. She was 85 years old. » » »

Las Vegas City Council Approves WJC Plans
The Las Vegas City Council has given its approval of the World Jewelry Center, a proposed 5.4-acre development dedicated to the international jewelry industry. » » »

Citizen Completes Acquisition of Bulova
Citizen Watch Co., Ltd., said it has completed the $250-miIIion acquisition of the global timekeeping company Bulova Corp. from Loews Corp. » » »

Wunderman Replaces Orloff at Corum USA
Michael Wunderman, formerly president of luxury watch brand Montres Corum, has replaced Stacie Orloff as president of Corum USA, in an unexpected top management restructuring of the North American operation. Orloff had been president of Corum USA, based in Irvine, Cal., since its establishment in 2000. » » »
THIS MONTH’S READER POLL
How did the 2007 holiday season compare with 2006?
Sales up more than 10%
Sales up between 5% and 10%
Sales up less than 5%
Sales flat with 2006
Sales down less than 5%
Sales down more than 5%

View results from last month’s poll

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