Stay updated with breaking news from S jewelry store. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
US Jewelry Store Closure Rate Slows RAPAPORT. The number of jewelry businesses operating in the US slipped slightly in the first quarter of 2021, a much smaller decrease than in previous periods, according to data from the Jewelers Board of Trade (JBT). In total, the sector downsized 1.5% year on year to 24,095 companies, compared to a decline of 4.2% in the first quarter of 2020, the JBT reported last week. Of the businesses that discontinued operations, four firms went bankrupt, while 32 dropped out due to mergers or takeovers. A further 108 closed for other reasons. Meanwhile, the number of new businesses fell 31% to 33. Retailers still constitute the bulk of the sector, numbering 18,263 down 1.5% year on year. The wholesale trade dropped 1.3% to 3,476, while the manufacturing sector contracted 2.3% to 2,356 firms. ....