Reeds’ holiday sales fall 14.8%

In a report released Jan. 15, Reeds Jewelers Inc., a leading regional jewelry chain headquartered in Wilmington, N.C., said net sales for the holiday season–November and December 2002–totaled $35,899,000, a 14.8% decrease.

Comparable store sales increased 2.8% during the same period in the previous year. Net sales for December alone decreased 14.9%, though comparable store sales rose 1.8%. Total net sales for the 10 months ending Dec. 31 were down 10.9%, though comp store sales rose 2.8%. Reeds Jewelers operates 92 stores in enclosed regional shopping malls in 19 states in the Southeast and Midwest.