Top Jewelry News: Week of Nov. 26



A roundup of JCK’s top stories from the past week:

Wire Fraud Scheme Targets Jewelers
At least five jewelers in the New York area have recently been stung by a wire fraud scam, in which a pending wire transfer is canceled after a customer picks up the item.

W.B. David Case Against De Beers Appealed
It seems that defrocked sightholder W.B. David’s 7-year-old case against De Beers may not yet be over.

Pandora Sales, Profits Down
Overall revenue for the Pandora Group declined 12.2 percent in third quarter of 2011, the company announced. America, however, was a bright spot.

Signet Sales, Revenues Jump
Signet Jewelers group sales totaled $710.5 million in the third quarter, a 10.7 percent increase from last year.

Jewelers Identify Top 3 Factors of Job Satisfaction
Our annual JCK Retailer Survey asked jewelers to cite the top factors that contributed to their job satisfaction in 2011 .

Zale Revenues Soar, Net Loss Drops
Zale Corp. reported that its revenues for the first quarter of 2012 were $351 million, a 7.3 percent increase from the same period last year.

Small Businesses Like Facebook, Hate Groupon
One out of every four small business owners doesn’t trust social media, according to a recent survey by iContact, an email and social media marketing company.

From the blogs:

A Blue Indicolite Tourmaline Ring From Richard Krementz Gemstones
Finished just four weeks ago, a natural color blue stone was discovered in the gemstone dealer’s vault after 21 years of storage.

Get to Know Deborah Pagani of Deborah Pagani Designs
A former colorist from New York City breaks into jewelry, and learns firsthand how retailers can be reluctant to embrace bold design.

Rolex and Jared Part Ways
There’s been talk of Rolex trimming its distribution, but given the power of Jared, this seems significant.

From the JCK Archives: 6 Tips From 1984 on How to Stay Ahead of Discounters
Phony discounters in 1984 hurt jewelers to the point that some had to adopt phony pricing of their own. Here’s what
JCK suggested they do to fight back.

Tips on How the Jewelry Industry Can Improve Online
This week, I asked our readers to weigh in on how the industry can improve its presence online to take advantage of the opportunities for growth.