Well that post-election euphoria ended pretty quickly … Again, sorry for all the bad news this week. It can’t be helped … I do think what we’re seeing now is lagging a little behind events, and that once we’ve recovered from the after-shocks from October (the “economy’s gonna die” month) things will get somewhat better. But obviously we still have a ways to go.
And here’s the news …
“Record” retail drop in October.
Christmas May Need a Bailout
– Shoppers cut holiday spending plans.
– Tougher credit policies will hurt retailers.
– Retail-branded credit cards hit.
– Unprecedented amount of retail returns.
Finlay same store sales down 14.9%.
Charles and Covard sales down 37%.
QVC lays off 900. (!)
Signet’s Burman to retire in 2011.
– Surat factories not re-opening.
Auction houses predict lower jewelry sales.
De Beers ad blitz: Too late?
– Mark Boston: Brands still promoting themselves.
Save This Industry!
– Dilip Mehta urges “responsible” buying.
– “Ten prescriptions” for the industry.
– Antwerp will discuss crisis.
– Dubai summit: Trade can still thrive.
Whitehall liquidation doing “well.” I’m hearing mixed from “the field.”
– The benefits of liquidating before January
– Mall owner may default.
Bidz 3rd quarter revenues up 38%.
– Company “sings the blues.”
– Company names new president.
– September earning call transcript.
Should Blue Nile go private?
– Company profiled by Street.com.
– 3Q conference call transcript.
– Boscov’s deal delayed.
Will 47th Street diamond tower be delayed?
Fortunoff moves Fifth Avenue store.
Jewelers Saying Goodbye:
– Edenfield’s and Susan Kay’s in Wyoming.
– Kaminsky Jewelers in Toledo.
– Enterprise Jewelers in Alabama.
– Fosters Jewelers in Athens, GA.
Wachovia bank takes David Nygaard merchandise.
Zale security chief on organization’s IT.
BHP still pressing Rio takeover.
Alrosa clients turning down goods.
– Alrosa, Kristall “clash.”
Canadian producers still “bullish.”
SA Diamond Council forms single body.
Tanzanian workers nervous about mine sale.
Leviev rumors refuted.
Botswana salary dispute ends.
Days Jewelers promotes Botswana diamonds.
– Diamond Empowerment Fund holds fundraiser.
Israel to chair Kimberley Process.
– Exchange celebrates 70th anniversary.
JCK parent has one less bidder.
– Modern Jeweler thinks they’re “spectacular.”
– Wonkette: She’s like a Republican!
– Mmegi (Botswana) on De Beers’ plans.
– Investors Chronicle (UK) on “pinched” diamond stocks.
From the Blog:
Have a good weekend, in spite of it all …