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.

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U.S. Jewelry Sales Rose in July, Government Says

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.

JCK News Director