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Retail Bulletin
The Conference Board Consumer Confidence Index® increased slightly in August to 81.5, edging up from 81 in July. The Present Situation Index decreased to 70.7 from 73.6. The Expectations Index increased to 88.7 from 86 last month. Consumers’ assessment of current conditions declined moderately. Those stating business conditions are “good” decreased to 18.4 percent from 20.8 percent, while those stating business conditions are “bad” was virtually unchanged at 24.8 percent. Consumers’ appraisal of the labor market was mixed. Those claiming jobs are “plentiful” decreased to 11.4 percent from 12.3 percent in July, while those claiming jobs are “hard to get” declined to 33 percent from 35.2 percent. Consumers’ expectations also increased slightly in August, with those expecting business conditions to improve over the next six months edging up to 20.1 percent from 19.9 percent.
The Bureau of Labor Statistics (BLS) reported that the U.S. consumer price index (CPI) for jewelry rose 4 percent year on year to 180.9 points in July, the highest increase to be posted in 16 months.- The July CPI was the ninth to exceed 180 points and marked the thirty-first consecutive month with a reading of more than 170 points.
- The CPI for all product categories combined jumped 2 percent year on year to 233.32 points, a record high.
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U.S. jewelry store sales increased 2 percent year on year to $2.3 billion in June, representing the weakest performance so far in 2013, according to the Census Bureau. - Jewelry store sales for the first six months of 2013 rose 9 percent year on year to $14.95 billion.
- Following strong sales increases in November and December, jewelry store sales surged 15 percent in January, improved 4 percent in February and then resumed high single- or double-digit increases in March, April and May.
Signet Group’s total sales rose 3 percent year on year to $880.2 million for the second quarter that ended on August 3, 2013, but profit fell 5 percent to $67.4 million.Same-store sales rose 4 percent and ecommerce sales jumped 29 percent to $31.2 million. In the U.S., total sales improved 6 percent year on year to $741.1 million. Comparable-store sales increased 5 percent, with stronger sales from bridal, colored diamonds and watches. In the U.K., total sales fell 6 percent at a constant exchange rate to $139.1 million and same-store sales at H. Samuel and Ernest Jones fell 2 percent.
Zale Corporation reported that its revenue improved 3 percent year on year to $417.1 million for the fourth fiscal quarter that ended on July 31, 2013. Same-store sales, which included online sales, rose 6 percent with Zale’s brand stores up by 8 percent. Zale’s loss in the fourth quarter improved to $8 million compared with a loss of $19.7 million one year ago. During Zale’s fiscal 2013, revenue improved 1 percent year on year to $1.89 billion as same-store sales rose 3 percent. Zale recorded a profit of $10 million compared with a loss of $27.3 million in fiscal 2012.
Tiffany & Co. reported that worldwide net sales rose 4 percent year on year to $925.9 million in the second quarter that ended on July 31, 2013. Comparable-store sales rose 1 percent worldwide, while profit jumped 16 percent to $106.8 million. Sales improved 2 percent to $444 million across the Americas, though same-store sales were flat. Tiffany & Co. improved its guidance for the fiscal year that ends on January 31, 2014 to forecast net earnings in the range of $3.50 to $3.60 per diluted share, compared with an earlier prediction of $3.43 to $3.53 per diluted share.
Birks & Mayors reported that revenue increased 2 percent year on year to $70.1 million for the first quarter that ended on June 29, 2013. Same-store sales jumped 9 percent worldwide, increasing by 15 percent in the U.S. and 5 percent in Canada. The company also announced that it signed a lease agreement with Varilease Finance Inc. to cover up to $3 million in costs associated with remodeling three Florida stores into the “shop in shop” format, a model the company launched last year.
Blue Nile Inc. reported that net sales rose 19 percent year on year to $108 million for the second quarter that ended on June 30, 2013, representing the fifth consecutive quarter of double-digit growth. - Net income jumped 40 percent to $2.2 million.
- International sales climbed 19 percent to $17.1 million.
- U.S. engagement sales surged 22 percent to $63.9 million and nonengagement sales rose 11 percent to $27 million.
Sotheby’s reported that revenue was essentially flat at $304.9 million in the second quarter that ended on June 30, 2013. Net income jumped 7 percent to $91.7 million. For the first half of the year, revenue slipped less than 1 percent to $406.6 million and net income fell 7 percent to $69.4 million. Auction commission revenue was positively impacted by the buyers’ premium rate increase that took effect on March 15, 2013, contributing an additional $19.8 million of second-quarter revenue. Article from the Rapaport Magazine - September 2013. To subscribe click here.
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