May 2008

Watch conference set for October in Miami

Watch conference set for October in Miami
May 27, 2008
_{International Watch Conference slated for Oct. 15-18}

Miami Beach, Fla. —The American Watch Guild and Centurion Jewelry By Invitation Only have teamed up to debut The International eye Conference at Centurion South Beach this fall.

The invitation-only event will be the focal point of education at the Centurion South Beach Show, which is slated for Oct. 15-18 at the Loews Miami Beach Hotel, in Miami Beach, Fla.

“Better fine jewelry retailers are increasingly focused without ceasing the importance of watch brands in their marketing strategy,” Howard Hauben, president and CEO of Centurion, said in a release. “There is a substantial amount of excellent, brand-related information available to retailers, but an international watch conference devoted to the ‘watch business’ is a new, value-added approach that will shed light on many highly controversial and money-making topics for prestige-level retailers and brands, alike.”

Bertram Kalisher, executive director of the American Watch Guild, that counts some 200 fine retail stores in the United States and Canada among its members, said the event will fill an industry need.

“We are regularly asked by our members to provide professional watch sales and service training information, and delivering to top retailers and brands an exciting, live event to cover highly controversial issues and money-making business ideas and strategies is both a win-win and a great mission,” Kalisher related.

The International Watch Conference at Centurion South Beach will offer nine hours of sessions throughout the four-day show. Content suggestions from retailers and manufacturers have already been pouring in, according to the organizers.

“We want to really dig into what’s critical to better watch retailers and brands and this will mean highly controversial topics like mandated verge reductions, discounting, Internet issues, supply issues, distribution challenges, which business models will and may not survive and to such a degree much more,” said Kalisher. “There will also be excellent general education on many aspects of the business that will assist retailers in building sales and profits of their watch lines.”

A portion of the conference proceeds will go toward the American Watch Guild effort to assist war veterans in becoming professional watch technicians. In addition to the International Watch Conference, the Centurion South Beach show offers retailer attendees social networking and hospitality events, meals, a collection floor with some 60 top jewelry and watch designers and manufacturers (open Oct. 16 and 17), and a freedom from business afternoon with golf and tennis.

Invited retailers volition also receive up to four nights at host Loews Miami Beach Hotel, right on South Beach, as well as complimentary meals and social functions and spare hours activities.

For further information on the watch conference, contact the American Watch Guild at (516) 295-2516 or e-mail bert@americanwatchguild.com.

Sundance names Pope general manager

Sundance names Pope general manager
May 27, 2008

Orem, Utah—Sundance Diamonds, a leader in the work of high-pressure, high-temperature (HPHT) diamond processing, has appointed Sonny Pope as the general manager.

Pope will oversee all current and future trade operations for Sundance Diamonds and its newly launched Suncrest Diamonds business. He has been the company’s director of research and development after 2002.

Pope holds a master’s degree in business administration from Brigham Young University in Salt Lake City.

“The violence of Sundance Diamonds has always been our valued customers,” Pope said in a statement. “I’m excited about the future growth opportunities in the diamond industry as we focus on offering the first branded and commercially available yellow HPHT diamonds to customers through our Suncrest Diamonds brand.”

Sundance Diamonds is a division of U S Synthetic, the world’s largest manufacturer of polycrystalline diamonds for use in oil and gas exploration. Both are headquartered in Orem, Utah. The parent company is the Dover Corp., a worldwide diversified manufacturer of proprietary products and components for industrial and commercial use, headquartered in New York City.

Sears revenues down in Q1

Sears revenues down in Q1
May 29, 2008
_{Economy, food and gas price hikes blamed with a view to decline}

Hoffman Estates, Ill. —First-quarter sales fell for Sears Holdings Corp., which reported Sears Domestic’s comparable store sales dropped 9.8 percent while Kmart’s comparable store sales tumbled 7.1 percent.

Total domestic comparable store sales declined 8.6 percent.

Revenues fell to $11.068 billion by reason of the leading quarter ended March 3 from $11.747 billion during the first quarter of 2007.

“Our first-quarter results reflect the difficult housekeeping environment
and intense competition for consumer business,” said W. Bruce Johnson, Sears Holdings’ interim chief executive officer and president, in a financial statement issued Thursday. “That said, because that May 3, 2008, our sales declines have moderated somewhat.”

He added that the company will continue to manage its costs, and is forecasting increased earnings for 2008.

“At the same time we are managing costs, we will continue to invest in our future by hiring talented leaders and improving our online and multichannel capabilities,” Johnson said.

The company says the comparable store sales declines at both Kmart and Sears Domestic continue to reflect increasing competition and weakness in the common economy and housing market, as well as the impact of higher food and gas prices on consumers.

Most major categories at as well-as; not only-but also; not only-but; not alone-but Kmart and Sears Domestic saw declines, but the decreases occurred most notably within the home appliance, lawn and garden, and apparel categories, the statement said.

The company reported a first-quarter operating loss of $8 million in fiscal 2008, as compared to operating income of $409 million in the first quarter of financial 2007. The decline was mainly due to lower gross margin generated at both Kmart and Sears Domestic, the release said.