Monday, 12th December 2005 (3974 views)

In the US, chain jewellers made headway on independent retailers during the third quarter in part due to strong gold jewellery sales, new figures show.

Research conducted by the International Diamond Exchange (IDEX) suggests that chain jewellers posted higher profits than their speciality counterparts, as their sales recorded more than the overall industry sales growth of 2.4 per cent.

Among the outlets with outstanding sales were Movado Boutiques, which reported sales growth of 33.1 per cent, and online jeweller Blue Nile, with 23.9 per cent growth.

Meanwhile, luxury jeweller Tiffany has just posted October sales growth of eight per cent.

Retailers have been reporting strong sales in yellow gold jewellery, large diamond jewellery and coloured stone jewellery, while sales of platinum jewellery have been weaker in the mass market.

For Zale Corporation, around 70 per cent of its subsidiary Piercing Pagoda's business was accounted for by yellow gold.

High-end jewellers Movado Boutiques and mass-market jewellers Sterling Jewellers and Finlay Enterprises also all reported strong demand for gold jewellery.

 

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