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US shoppers shelled out cash heartily online for holiday gifts in October as retailers offered deals to get customers spending early.Total e-commerce sales for the month rose 11% over September’s figure to $72.2 billion and were on par with the $72.4 billion spent in October 2021, even as. ....
Petra Diamonds has halted production at its Williamson mine in Tanzania for at least three months following a wall breach.The pause will give the company time to build a new tailings storage facility that was already under construction before last week’s incident at the site. The new facility. ....
Brilliant Earth lowered its outlook ahead of the crucial fourth quarter, noting that consumers were hesitant about making purchases.The online-focused jeweler expects full-year sales of $436 million to $446 million, down from an earlier forecast of $450 million to $470 million, it said. ....
Revenue from Richemont’s jewelry brands was solid in the first fiscal half as demand grew in all regions and the Asia-Pacific market recovered.Sales from the company’s jewelry maisons Cartier, Van Cleef & Arpels, and Buccellati rose 24% year on year to EUR 6.34 billion ($6.58 billion). ....
News: Polished trading cautious as Indian suppliers return from Diwali break. US driving demand. Focus on memo as jewelers limit inventory during economic uncertainty. Rising expectations for the season; NRF projects Nov.-Dec. retail sales +6% to +8%. Consolidation continues as JBT reports. ....