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Jewelry retailers created mixed outcomes when it comes to sales development, based on the 2008 Jewelers of America Price of
Performing Company Survey.
Based on the survey of JA members, there was development amongst designer/custom, independent high-end and chain retailers; whilst
mid-range independents saw genuine declines.
General development for 2007 was basically flat for the very first time because 2001 and 2002, coming in at -0. three percent on
typical (down from four. 1 percent in 2006). Designer/custom retailers fared very best having a 6. 1 percent sales improve more than
2006. Independent high-end retailers saw development of three. five percent, but that was down from 2006, once the category was up
7. four percent. Chain shops skilled two. five percent sales development, whilst mid-range retailers had been down 1. 7 percent, in
comparison to 2006 sales.
Profitability was down in 2007, with specialty retailers encountering a median four. 6 percent net profit as a percent of net sales
in comparison to five. three percent in 2006 [See Chart. Gross margins had been 48. 7 percent, down from an improve of 49. 1 percent
in 2006. Outcomes as soon as once more varied by kind of specialty jeweler, with independent high-end retailers seeing their
margins enhance slightly to 45. two percent (versus 42. 9 percent in 2006), whilst chains and designer/custom companies had been
pressured by reduce margins. Gross margins at independent mid-range shops had been steady from year to year. The survey, which has
been published annually for 17 years, compiles information from a cross section of jewelers, such as independent high-end
companies (22. 6 percent) rolex 116523 , independent mid-range companies (36. five percent), jewelry chains (7 percent) and designer/custom
jewelers (11. eight percent).
Share of salesThe JA survey shows that the distribution of sales remained constant from year to year. Diamonds (loose and set) are
nonetheless within the majority, with 52 percent of sales, up two percent from 2006. The following greatest item categories are
colored stone jewelry (ten percent of sales) and karat gold (eight percent). omega replica watches paypal Repair sales continue to become essential, bringing
in 11 percent of sales, up 1 percent from 2006. Sales of timepieces went from four percent of sales to three percent of sales, in
comparison to 2006.
Higher profit vs. low profit storesThe JA 2008 Price of Performing Company Survey proves that efficient management could make the
distinction in between a high-profit along with a low-profit firm. Whilst high-profit shops in 2007 didn't have higher sales per
shop ($1, 179, 108 on typical in comparison to $1, 214, 544 for low-profit shops), they did have greater sales per full-time employee,
with reduce payroll and operating costs. Also, high-profit shops had a 20 percent higher inventory turnover than low-profit
companies, based on the survey.
High-profit retailers contained their operating costs in 2007 by investing a reduce percentage of net sales on payroll, occupancy,
marketing, as well as other associated costs. They spent 6. five percent much less on total operating costs than low-profit
"It is clear that high-profit jewelers do numerous items just just a little much better than their low-profit competitors, "says
business analyst Ken Gassman, who Jewelers of America commissioned this year to complete a supplementary evaluation from the
In his evaluation, integrated using the JA 2008 Price of Performing Company Survey, Gassman observes that whilst monetary outcomes
for 2007 had been much less robust, the company is cyclical.
"It wasn't a poor year in 2007; rather, it was clear that the business hit its 'high water'mark in 2006, and also the tide started
to recede in 2007, a trend that continues these days, "he says.
Gassman's evaluation not just looks at this year's numbers, but additionally provides a historical viewpoint. Retailers might
yearn for the "good old days"of much more prosperous occasions, but he says a appear in the JA 1998 Price of Performing Company
Survey (which reviewed 1997 information), reveals a various story. "Ten years ago, jewelers'gross margins had been reduce; their
shops had been big, inefficient…and, sales per shop had been a fraction of present levels, "he stated.
Jewelers of America's 2008 Price of Performing Company Survey consists of 77 pages of information tables organized from the 4
categories of specialty jewelers. To order the 2008 Price of Performing Company Survey patek philippe 5980 , visitjewelers. org or contact Jewelers of
America at 800-223-0673. It's accessible to Jewelers of America members for $24. 95 and non-members for $150.
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