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.
India calls for rough import freeze.
– 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.”
– Tops guidance, but shares plunge.
– Company names new president.
– September earning call transcript.
Should Blue Nile go private?
– Gassman and Seeking Alpha on Blue Nile’s latest results.
– 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.”
– Chaim: “The prisoner’s dilemma.”
– Wyndham: “Subtle” changes in DTC boxes.
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.
More on Michelle Obama’s diamond earrings.
– Modern Jeweler thinks they’re “spectacular.”
– Wonkette: She’s like a Republican!
Media Watch:
– Mmegi (Botswana) on De Beers’ plans.
– A publicity–generating recent New York Times parody included a fake De Beers ad.
– Investors Chronicle (UK) on “pinched” diamond stocks.
From the Blog:
– Is Discounting Spinning Out of Control?
– 47th Street Diamond Tower – Delayed?
Have a good weekend, in spite of it all …
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