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Retail Bulletin
The U.S. consumer price index (CPI) for jewelry eased again in January, falling 3.5 percent year on year to 176.7 points, slightly lower than December’s reading, which was revised to 176.8 points, lower than originally reported. Nonetheless, the CPI maintained a historically strong trend and January marked 25 consecutive months of a reading of more than 170 points. The CPI for all product categories combined in January rose 1.6 percent year on year to 231.2 points. In 2012, the CPI average rose 2.1 percent.
Online U.S. retail sales in 2012 rose 15 percent year on year to $186.2 billion, according to comScore Inc., a research firm. Ecommerce sales rose 14 percent in the fourth quarter to $56.8 billion, marking the first-ever $50 billion quarter. The top-performing online product categories, all of which grew at least 15 percent in 2012, were digital content and subscriptions, consumer electronics, toys and hobbies, apparel and accessories, and books and magazines.
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The National Retail Federation (NRF) projects retail industry sales will increase 3.4 percent year on year in 2013, excluding automotive dealers, gas stations and restaurants. The increase is less than the 4.2 percent rate of growth the NRF observed in 2012. Continuing its trend in recent years, internet retail sales will be the bright spot in 2013;
the NRF expects online sales to surge between 9 percent and 12 percent. The NRF reported that its annual “tax returns” survey, conducted by BIGinsight, revealed that 73.3 percent of U.S. consumers claimed their spending plans have taken a hit due to the expiration of a temporary payroll tax cut on January 1. Of those polled, 45.7 percent said they will spend less overall and 35.6 percent will watch for sales more often. The survey also found that even for those consumers who felt little or no impact from the payroll tax increase, 22.4 percent said they would spend less overall.
Zale Corporation’s second-quarter revenue rose 1 percent year on year to $670.8 million for the three months that ended on January 31, 2013. Same-store sales rose 2.8 percent. Zale’s brand stores, consisting of Zales Jewelers and Zales Outlet, posted a comparable-store sales increase of 3.6 percent, compared with an increase of 10.1 percent one year ago. - U.S. jewelry brands posted a comparable-store sales increase of 2.8 percent, against an 8.9 percent year-to-year increase.
- Brands in Canada, including Peoples Jewellers and Mappins Jewellers, posted a comparable-store sales increase of 3.8 percent, higher than the 0.7 percent increase posted one year ago.
LVMH posted revenue of $38.2 billion (EUR 28.103 billion) for fiscal year 2012, an increase of 19 percent year on year. Organic growth, representing comparable-store sales at constant-exchange rates, increased 9 percent. LVMH’s group share of profit jumped 12 percent to $4.6 billion (EUR 3.424 billion). In terms of organic growth for jewelry and watches:- Sales increased 6 percent year on year; however, total revenue for this segment surged 46 percent to $3.9 billion (EUR 2.84 billion), reflecting the Bulgari acquisition.
- Profit from recurring operations of the jewelry and watch business rose 26 percent to $453 million (EUR 334 million).
Blue Nile reported fourth-quarter and full-year 2012 financial results. For the fourth quarter that ended on December 30, 2012: - Net sales climbed 21 percent to $136.1 million.
- U.S. engagement sales jumped 31 percent to $73.6 million and nonengagement jewelry sales rose only 5 percent to $42.5 million.
- International sales in the fourth quarter surged 27 percent to $20 million.
For the fiscal year, Blue Nile announced:- Net sales jumped 15 percent to $400 million.
- U.S. engagement sales rose 22 percent to $226.6 million.
- Nonengagement net sales rose 5 percent to $111 million.
- International sales improved 12 percent to $62.4 million.
- New customer accounts increased nearly 18 percent.
Jewelry sales for Sotheby’s in 2012 surged to a record $460.5 million. The auction house stated that revenue from its jewelry sales was propelled by the success of private collections, exceptional diamonds and gemstones and historical jewels with noble provenance. - Sotheby’s jewelry auctions worldwide achieved an average of 84 percent sold by lot. Seventy-two lots sold for more than $1 million, with six surpassing the $5 million mark.
- In the Americas, Sotheby’s experienced its highest single-day total for jewelry in December when its New York auction achieved $64.8 million.
- Sotheby’s annual total of $114.5 million in Hong Kong marked the company’s second-biggest year of jewelry and jadeite sales in Asia.
Article from the Rapaport Magazine - March 2013. To subscribe click here.
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