U.S. jewelry sales rose in July, with gains seen in both specialty jewelers and the overall industry, according to preliminary U.S. government statistics.
Jewelry and watch sales in July 2015 totaled $5.5 billion, a 3.5 percent jump over the prior year, according to data compiled by veteran analyst Ken Gassman. Meanwhile, specialty-jeweler sales rose 2.9 percent over the past year to hit $2.2 billion.
The U.S. Department of Commerce also revised its July sales number for specialty jewelers, from a 7.7 percent gain to a “more credible” 5.2 percent, Gassman added. June’s jewelry and watch sales data was also adjusted from a dip to a 3.5 percent gain.
Gassman now believes holiday sales will rise 2–3 percent, citing an improved consumer mood, better U.S. economy, and “adequate, balanced inventory” at jewelers.