US Watches and Jewelry: First Official Figures Show Recovery in Specialty Sales
May 23, 21
(IDEX Online) - Specialty jewelers have been recovering well after the devastating early months of the pandemic, according to the first figures release by the US Department of Commerce for well over a year. It's the first time we've seen official figures since January 2020. They show sales in the April 2020 crash fell by 78.5 per cent - slightly worse than the 75 per cent estimate by our own expert Ken Gassman. He provided quarterly best estimates based on reliable and consistent performance data from Signet, Tiffany, and Movado, representing almost a quarter of the total specialty jewelers' retail sales in the US. Sales of specialty jewelry have been averaging around 25 per cent year-on-year in the three months to February 2021. The figure for February was 24.3 per cent, up slightly on January.
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