JCK5: Jewelers Recent Financial Results Are Mixed

Publicly held jewelry companies’ recent financial results have been all over the map:1. Charm manufacturer Pandora Group’s U.S. sales were up 55 percent over last year.2. Same-store sales at Michael Hill’s eight U.S. locations rose 6.4 percent during the past year, but the division still lost $2.3 million.3. U.S. gold jewelry demand grew 2 percent in the second quarter of 2013, according to the World Gold Council. 4. Moissanite manufacturer Charles & Colvard saw second-quarter sales rise 29 percent over 2012 to $6.5 million but posted a $492,000 loss.Pandora’s silver and 14k gold bracelet with silver, 14k, enamel, and Murano glass charms; top: Murano cherry blossom charm5. J.C. Penney posted a $586 million net loss and 11.9 percent comp sales decline for the second quarter of 2013.

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