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De Beers Diamond Sales Down 3% in 2007
De Beers reported Friday that diamond sales declined 3 percent in 2007 to $6.42 billion. Total sales for the company also fell 3 percent for the year to $6.86, which includes a 2.5 percent increase in non-diamond sales to $414 million. » » »

Signet Same-Store Sales Down 6.7%
Signet Group plc, the world’s largest specialty retail jeweler, reported that same-store sales declined 6.7 percent in the fourth quarter ended Feb. 2. Total sales for the period fell 6.1 percent on a reported basis to $1.38 billion. At constant exchange rates, sales fell 3.7 percent. » » »


Zale Same-Store Sales Down 7.3%
Specialty jewelry retailer Zale Corp. reported that same-store sales fell 7.3 percent for the second quarter ended Jan. 31. Revenues for the period also declined 7.3 percent to $827 million. Results do not include the Bailey Banks & Biddle chain, which the Dallas-based company sold to Finlay Enterprises, Inc. on Nov. 9, 2007. » » »

Finlay to Lose 94 Macy's Locations
The reorganization of Macy's Inc. will mean the loss of 94 Finlay jewelry departments. » » »

LVMH Watches & Jewelry Up 13%
LVMH Moët Hennessy Louis Vuitton Watches & Jewelry category sales increased 13 percent to $1.2 billion in 2007, led by strong growth in the TAG Heuer watch brand. » » »

From Our Blogs

Diamond Shavings: Your Friday Web Roundup
This is posted early as I am in the Holy Land right now at the Israel Rough Conference… Hope to see some of you there. Now the news...
Read On »
Cuckoo for Cocoa Pearls
I spent my first day of the American Gem Trade Association’s GemFair Tucson 2008 at the AGTA show. Most noticeable was the variety of brown pearls. Here’s a sampling of some of that merchandise...
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Dispatch from Centurion
The Centurion Jewelry Show, always a highlight on the early-season show circuit, wraps today. This year was the show’s seventh, and Howard Hauben, president of H2 Events, which produces the show, says this year's edition has more retailer attendees than ever before—and, despite the nervous-making economy, fewer cancellations. It feels like it, given the crowds on the show floor—and given that for the first time ever, yours truly was bumped from the headquarters Westin La Paloma hotel to the admittedly lovely but offsite Loews Ventana Canyon, I’d say he’s right. And, kudos to Howard and his team: as usual, this is a beautifully-organized event and a favorite destination for suppliers and retailers and press alike...
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Customer Watch: Taking Style Clues from the President and Watching the Female Contender
With all the excitement over the presidential primaries today, I’m going to postpone my planned topic and talk about a phenomenon that occurs in American society: American business people take their style clues from the President of the United States...
Read On »

MORE INDUSTRY NEWS

Tiffany Expects 10% Sales Growth in 2008
Tiffany & Co. said Friday it is expecting double-digit international growth and single-digit domestic growth for 2008. » » »

Tiffany to House Patek Philippe Salon
Luxury retail jeweler Tiffany & Co. and Swiss luxury watchmaker Patek Philippe will open a new Patek Philippe salon, the first in the U.S., in Tiffany’s New York flagship store in April. The salon will be dedicated to showcasing the watchmaker’s timepieces and celebrating its heritage. » » »

Vacheron Rated Most Prestigious Watch Brand
High net-worth consumers rated Vacheron Constantin the most prestigious luxury watch brand, according to a survey by the Luxury Institute. Patek Philippe and Piaget were ranked second and third, respectively. » » »

ICSC: Chain store Sales Grew 0.5% in January
U.S. chain stores reported their slowest January since 1970, with same-store sales growing 0.5 percent compared to the previous year, according to the International Council of Shopping Centers. Department stores and luxury chains posted the biggest declines in sales growth, at 5.7 percent and 2.2 percent, respectively. » » »

New Artists, Jewelry Preview at Buyers Market
Works by 35 new jewelry artists will be part of the upcoming Buyers Market of American Craft, being held Feb.15-18, in Philadelphia. An exclusive preview of jewelry exhibitors is scheduled Feb.14 at 5 p.m. Both events will take place at the Pennsylvania Convention Center. » » »

WJC Receives Final City Approval
The Las Vegas City Council on Wednesday unanimously approved the World Jewelry Center’s Site Development Plan and Special Use Permit, thus giving the developer, Probity International Corp., all the entitlements necessary to proceed with the project. » » »

GIA Names Trépanier, Southern Africa MD
The Gemological Institute of America named Marie-Josée Trépanier as managing director, Southern Africa, effective Feb. 1. » » »
THIS MONTH’S READER POLL
How do the recent financial problems of jewelry retail chains, such as Zale and Friedman's, affect independent jewelers?
It eliminates competition and creates opportunities for independents.
The ups and downs of chain jewelers make little to no difference to independents.
It reflects on the industry as a whole, thus, making it difficult for all jewelers to compete.

View results from last month’s poll

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