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holiday blues hit jewelry sales

by:Keke Jewelry     2020-05-22
Los Angeles, January 8Reuters)-
In the past Christmas, the sellers of jewelry have fallen into melancholy.
Jewelry sellers in North America and Europe said Thursday that sales fell sharply in the key months of the 2008 holiday shopping season, hurt by the worst recession since the Great Depression and the bad winter weather in the United States before Christmas.
Many retailers have had a tough holiday shopping season in the last 40 years. ID:nN08485027]
And the jeweler, they traditionally book one-
In the last few months of the year, their third annual sales were not spared.
Kristine Koerber, an analyst at JMP Securities, who covers Tiffany & Co, a high-end jewelry seller (TIF. N)
Blue Nile Inc, online retailer.
O said the decline was unprecedented.
\"Who knows how long it will last. . . ?
\"If the 09 holiday is worse than the 08 holiday, we will have some big problems,\" Koerber said . \".
But she praised jewelry retailers for cutting costs to make up for new consumer frugality.
Signet Jewelry Co. , Ltd. SIG. N)
It is reported that the world\'s largest professional jeweler is 15 years old.
Potential sales fell by 2% in the nine weeks ended January.
3, including a 10.
The decline in the UK was 9%, down by 16.
Its main U. S. stock market fell 4%S. market. [ID:nL8459900]
The group\'s stores include mid-
First-line retailers like H.
Samuel and Ernest Jones in the UK, as well as Kay jewellery and Jared jewelry stores in the United States, also said they would stop paying dividends.
Competitor ZLC.
Sales in established stores fell by 19, N said.
Compared to a year ago, 6% per cent were in November and December.
\"Due to the overall macroeconomic situation, this holiday is the most difficult thing to remember,\" said Zale chief executive Neil Goldberg . \".
Finley Enterprise Co. , Ltd.
OB has its own store and also operates counter in USAS.
Department stores like Macy\'sM. N)
Sales of Lord and Taylor fell by 23 in November and December.
$ 7% to $265. 9 million.
The company also operates chains such as Carlyle and Bailey bank. The company says sales in established stores have fallen by 20.
Between November and December, 1% per cent.
Shares of Zale fell 7.
64%, at $3.
75, while Tiffany fell 3.
$ 02% to $24.
08, are listed on the New York Stock Exchange.
Signet rose 1.
4%, the company said it would live up to market expectations for annual profits.
Finley warned on December that it was suffering from liquidity problems, trading 4 cents per share in excessive tradingthe-counter market.
Discount stores like Walmart
Mart department store (WMT. N)
Wholesale clubs with BJ (BJ. N)
Jewellery sales were also reported to have been hit in December, while J. C. Penney Co Inc (JCP. N)
The company said its jewelry sales were weak.
Koerber, analyst at JMP Securities, said she expects net sales on Blue Nile holidays to fall by 16% in the quarter.
Its share price fell 2.
$ 77% to $23. 15 on Nasdaq.
Koerber predicted a 34% decline in the U. S. economy. S. fourth-quarter same-
Tiffany said earlier last month that as the recession led to spending cuts for wealthy customers, it would cut about 800 jobs in the United States. (
Report by Lisa beltrin;
Edited by Richard Chang)
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