Diamond Shavings: Your (Early for the Holiday Weekend) Web Roundup

UPDATE: Our thoughts are with our industry colleagues in Mumbai … Very sorry to hear about today’s tragic and senseless events.

For a short week, a lot of stuff came in … Check out my posts for the week at the end of this one … Hope everyone has a great holiday ….

 

And now the news …

 

Signet posts third quarter loss.

– Company stops sourcing rough.

 

Zale same store sales down 3.7%.

– Earning call transcript. Item of note: “Sales trends since mid-October show declines in the mid-teens.”

 

Tiffany 3Q sales fall 1%. U.S. sales down 7%. Earnings rise.

– Tiffany shares hit low.

 

Jewelers’ stocks decline.

 

Black Friday Preview:

– Weather looks good.

– 128 million may shop this weekend.

– CNBC: Retailers “cautious”

 

Online spending projected down.

 

BHP – Rio deal off.

Merrill Lynch seeks liquidation of Fred Leighton.

 

Leumi won’t finance rough purchases.

 

Gem Diamonds calls off tender.

 

Financial Times: De Beers’ Canadian dispute.

 

NY Times: Luxury brands advertising less.

 

Julius Klein loses “pink diamond” case.

 

Head of ABN D and J division retires.

 

Shanu aflame over Hearts on Fire: Parts one and two.

 

Harry Winston goes online.

 

20 diggers killed in Zimbabwe.

– Lawyers probe abuses.

– Area “a war zone.”

 

Diamond firms receive suspicious letters.

 

Israeli exchange celebrates 70th birthday.

 

Quote of the Week: “Diamond people always complain. The difference is, they mean it this time.”

 

Media Watch:
New York Times interviews Zale CEO.

The Economic Times interviews Varda Shine.
– India’s Commodity Online on “blood diamonds.”

Bloomberg on Antwerp’s raids and woes.

Wall Street Journal blog on the industry’s woes.

Chicago Tribune notices dropping diamond prices.

Wired news has (old?) Chuck Fipke profile.

Orange County Register reporter gets off on 11-carat earrings. But check out the comments.

 

From the Blog:

Sterling Does Vertical Integration in Reverse

What’s Up With Finlay

Head of ABN AMRO Diamond and Jewelry Division Retires

 

Everyone have a great weekend and let’s hope for a good Black Friday  … And maybe we should all support other retail-based industries. There are plenty of good deals out there …

JCK News Director