February 2008

EXCLUSIVE: Retailers report stable V-Day sales

EXCLUSIVE: Retailers report stable V-Day sales
February 15, 2008

Jewelers seemed to weather the economic storm this Valentine’s Day, with reports of stable sales. Pink and white diamond ring in platinum and rose gold by Leviev.

New York—Despite the nation’s sluggish economy, Valentine’s Day jewelry sales were stable for the retailers who spoke with National Jeweler today.

At Westerly Jewelry in Westerly, R.I., proprietor Kevin Algiere said sales for the holiday were pretty decent considering the economy.

“Sales were bleak in December, and we didn’t know what to expect for Valentine’s Day, but it turned out OK,” he said, citing Journey diamond jewelry and sound silver as some of his top sellers.

Although sales were down at the retailer compared with last year, Algiere said he has no complaints because they exceeded his expectations.

At Indianapolis-based Reis-Nichols Jewelers, substantial silver jewelry was a hit for the holiday, especially in designs by Scott Kay and David Yurman.

Merchandise Manager Jennifer Demmary said sales were pretty normal compared with past years.

“It was pretty good,” she said. “Price points were a little lower than years past.”

Rebecca Garnick, marketing director at Long’s Jewelers, by five locations in Massachusetts, said Valentine’s Day sales were good.

“The consumer that shopped with us was somewhat budget-conscious but also very interested in jewelry,” she said, adding that top sellers included brand names in jewelry and watches, as well during the time that items priced $1,000 and under.

At C. Aaron Penaloza Jewelers in San Antonio, Texas, owner Aaron Penaloza said his sales for February have been fabulous, and that it might have been the best Valentine’s Day the store has for aye had.

Even with gloomy economic forecast, Penaloza said San Antonio’s economy is influential and stable.

“I don’t know if San Antonio is some oasis of prosperity, but it seems to be weathering this particular [housekeeping] storm pretty well,” he said.

The regular heart and ball designs sold well at C. Aaron Penaloza Jewelers for the celebration, but Penaloza said it’s hard to name specific trends since a little bit of everything sold.