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| Tuesday, August 8, 2006 When it comes to customers, it's always better to take your time - listen to what they have to say and don't pressure them. People don't like pressure and stress. Make them feel comfortable. Gain their trust. Listen to their boring stories if you have to. They will appreciate it. They will remember you when they need to buy jewelry the next time. |
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Email me
or
call me
at 800-373-4373 x 215
with your
questions or comments. |
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What's not to like? Email campaigns can work for you. We are offering serveral special programs to get you started. Email me and I'd be happy to design a program that fits your needs. Plan now for the holidays. |
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| Exclusive: Leading Jewelers offered rough deal
By Susan Thea Posnock - National Jeweler AUGUST 07, 2006 - Rye Brook, N.Y. -- For major retailers like Zale, direct sourcing— particularly in the area of diamonds—has become a key component of their business. But for independent retailers, it's a far more challenging proposition. That could change for the members of the Leading Jewelers of the World (LJW), who met at the Doral Arrowwood resort in Rye Brook, N.Y., last week for a three-day meeting. The organization, which consists of 36 retailers operating 58 jewelry stores across the country, was acquired earlier this year by Digico Holdings Ltd., a Diamond Trading Co. (DTC) sightholder. Jewelry Marketing Co. (JMC) oversees the association, which is Digico's New York-based marketing arm. The now defunct W.B. David formerly owned the retail association.
At the meeting, JMC announced it had acquired a major stake in Tri-Star Worldwide, a partnership that distributes the Canadia diamond brand, which specializes in diamonds from Canada. The company has offered LJW members the opportunity to source rough diamonds directly through the creation of the Tri-Star Alliance, said Jack Gredinger, executive director of LJW, during a presentation on the new program. He said the program will allow retailers to mobilize their collective power. "Each of you can be bigger, you can become serious players in the diamond business," he said. Under the program, which has a money back guarantee, retailers would commit to an initial $30,000 in cash to create a program sub-account. There would be five sights total, with a minimum commitment of $150,000 for the year. Gredinger says the rough purchase program offers retailers the chance to improve their margins by getting a direct supply without having to deal with middle men and would also provide access to a continuous supply of larger, fine quality goods. The program at this point would be limited to diamonds from BHP Billiton's Ekati diamond mine in Canada's Northwest Territories. JMC is also a BHP sightholder. The program does not involve the DTC.
Oren Sofer, CEO of Canadia, and head of Tri-Star told the group that retailers who participate—the program needs at least 12 jewelers to sign up in order to move forward—would submit an Intention to Offer (ITO) for each sight, indicating what type of diamonds they want. The company would try to match the request as closely as possible. The diamonds will be cut and polished for the retailers at a minimal fee. JMC will match the funds contributed by participating retailers for the sights. "We have to do things differently, we have to be innovative, we have to be radical," said Sofer. "There are Blue Niles out there, there are people selling in their basements with their fuzzy slippers on. In every industry its happening, people are coming together as collective groups, pooling their power together and using it to their advantage." |
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| Zale Faces Shareholder Lawsuits, Announces Q4 Results
Professional
Jeweler Zale Corporation is facing class-action lawsuits filed in the United States District Court for the Southern District of New York by eight different law firms on behalf of shareholders who purchased stock in the company between February 18, 2005 and May 5, 2006. The lawsuits were filed against the corporation as well as against former president and CEO Mary L. Forte, former CFO Mark R. Lenz, former Senior Director of Investor Relations Cynthia T. Gordon, and former COO Sue E. Gove. The suits claim that Zale violated Sections 10(b) and 20(a) and Rule 10b-5 of the Securities Exchange Act of 1934 by issuing material representations to the market to artificially inflate the market price of Zale stock. The suit says those representations in the company's reported results overstated Zale's net cash flows and free operating cash flows, and that Zale improperly accounted for extended service agreements, leases and accrued payroll. Some of the suits refer to April 10, 2006, when Zale announced that the SEC was conducting a non-public investigation into accounting for extended service agreements, leases and accrued payroll, among other issues. Shares of Zale's stock dropped 9.5%, to close that day at $25.16 per share, on heavy trading volume. Then, when the company announced on May 5 that it was placing its CFO on administrative leave for failing to disclose mishandled timing of vendor payments, the company's stock dropped an additional 1.8% and continued to fall the next day. Plaintiffs are seeking recovery of those financial losses in the lawsuits. Meanwhile, Zale announced Thursday that its fourth quarter comparable store sales rose 3.5% and that total revenues increased 3.7% to $490 million. Revenues for the fiscal year increased 2.3% to $2.438 billion. The company also announced it would record a pre-tax, largely non-cash charge of approximately $38 million to $40 million in the fourth quarter, or approximately $0.50 to $0.52 per share. The charge primarily consists of inventory markdowns, write-off of capital investments for an information technology initiative that the company isn't moving ahead with, and an asset impairment charge of approximately $4 million relating to certain test stores in the Gordon's and Zales brands as well as discontinued retail repair operations. Including the fourth quarter charge, the estimated loss per share is expected to be $0.48 to $0.52 compared to prior guidance of $0.00 to $0.02 earnings per diluted share. |
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Signet sparkles on bid interest
By Miles Costello - TimesOnline Private equity giants KKR and Apax today confirmed they are exploring the possibility of launching a multi-billion takeover bid for Signet, the owner of H Samual and Ernest Jones, sending shares in the luxury jeweller rocketing by more than 15 per cent. More |
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Jewelry Industry Statistics: Jewelry Stores Overview: Industry Center - Financial data, performance and profile information for the Jewelry Stores. More |
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Learn more about GemFind Network Services including: • GF Search - Search through over 63500 diamonds from dealer's throughout the country! • GF Forum & Marketplace - Buy and Sell diamonds, watches, gems, and jewelry in our innovative, easy-to-use industry marketplace. • GF Index - The most accurate diamond appraisal system. Exclusive to GemFind members. • GF Emailer - Stay in touch with your customers and let them know about events, specials, etc. with our GF Emailer program. • GF Ticker- Real-time Desktop Data Display of Diamond Specials, Diamond Dealers, Industry Link, News & More! • GF Diamond LINK - Add our diamond search technology with over 40,000 diamonds to your existing website instantly. Sell online with our GF Diamond LINK ecommerce system. • GF Jewelry LINK - Add our jewelry search technology to your existing website instantly. Sell finished jewelry from different manufacturers with your own mark-up online with our GF Jewelry LINK ecommerce system. More info • GF Ring Builder - Add our Macromedia Flash diamond ring designer to your existing website instantly. Let your customer build their engagement and wedding rings online using real settings you choose and diamonds linked right to your online GF LINK diamond inventory! • GF Gift Registry - Set up your own privately branded bridal registry or even a full blown gift registry online. Add a registry into your website and not only keep your customers coming back, but introduce your customers' gift-giving friends to your website when they visit the registry. • US Diamond Search - An internet website where consumers can search for diamonds online and are able to see the diamond in their local jewelry store (a USDS affiliate) before they purchase. • Internet Development & Advertising - Let GemFind put your business online the right way. Have an existing website? Let GemFind help you promote it to the world. To learn more about Gemfind and to view samples, click here or call 800-373-4373. Don't put off until tomorrow what you can do today.
Eight Tips For Better Brainstorming Should your team work as a group or as individuals - a recent study sheads light on which is better. More Send me your comments and questions.
Talk to Our Customers? Are You Crazy?
FastCompany.com - From: Issue 107 | July 2006 | Page 70 | By: Ian Wylie Mothers in the small Swiss village of Bulach may have been wary of the man with a goatee staring at them as they strug-gled to navigate an ATM, grocery bag in one hand, fractious child in the other. But the man didn't care what their PIN numbers were or how much money they had in their accounts. He wanted to know, Why didn't they just put the bag down? More Key Retail Reports, Sales, Surveys, Studies and News More
ROBBERS ESCAPE WITH TENNIS BRACELETS
Southington, CT – July 22, 2006
A black male and a black female entered a retail jewelry store at 2:00 p.m. The female asked to see engagement rings and then tried on tennis bracelets. The male suspect took out a bag and a handgun and told the sales associate to fill the bag with the rest of the tennis bracelets, which numbered 15, and ordered the clerk to lie on the floor. The male is described as 5’8” with a small goatee. The woman was in her 20s, short, thin with braided black hair. The suspects were reported to have fled in an older white Cadillac with darkly tinted windows. More JSA's Most Wanted
| Modern Lockets
A sentimental favorite of proud mothers of all generations, these lovely lockets can be petite and traditional or modernly bold.
by Nanz Aalund, June 2006 - Ganoskin A Look at Pearl Quality
By Anne Sasso - May/June 2004 Issue of Colored Stone - Ganoskin When buying cultured pearls, consumers must consider several quality characteristics that are very different from the "four C's" of diamonds or gemstones. Click here for the full story |
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