US Watch and Jewelry Sales Dip in January
March 04, 25
(IDEX Online) - Sales of watches and jewelry in the US dipped in January, for the first time in well over a year. They were 3.0 per cent less than the previous January, according to the latest figures from the US Department of Commerce.
In addition, revisions to November and December sales figures now show slower growth than originally reported.
Figures based on actual through-the-till transactions, rather than estimates, put sales at +2.6 per cent and +1.5 per cent respectively, rather than the revised figures of +3.0 per cent and +4.0 per cent.
Sales of watches and jewelry had been in positive growth since October 2023, and they peaked last September and October at around 10 per cent. Prior to that they'd been in overall decline since October 2022.
Signet, by far the biggest US jeweler, reported a sluggish performance over the 10-week holiday season in its latest update, with same store sales (SSS) down 2 per cent year-on-year. It trimmed its SSS forecast as a result.
The overall trend for jewelry sales is now downwards, according to US Department of Commerce figures.
Jewelry sales in the US fell by 2.7 per cent during January (compared to a 1.5 per cent rise in December). Watch sales were down 4.6 per cent, compared to a 1.1 per cent increase per cent in December. The overall decrease in sales of watches and jewelry for January was down 3.0 per cent, down from a 1.5 per cent increase in December.
