Watches of Switzerland reports 5.9% increase in revenues in Q1 results

Watches of Switzerland has reported a 5.9% increase in group revenues to £819.3m in the year to 26 April, ahead of recently revised guidance. In the 46 weeks to 15 March 2020, group revenue increased by 15.8% across both the UK, which was up by 9.4% and the US, which increased…

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How jewellers can maximise store closure time

As business owners across the country temporarily close their physical stores and reduce their hours due to the latest government restrictions, now is the time for retailers to think about expanding the services they offer and future-proofing their businesses. This is particularly important for small, independent retailers who might not…

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How to keep track of your cash flow

More than ever, cash flow is a key issue for small businesses, and understanding it is crucial to making informed decisions at the right time. The government will be asking businesses to demonstrate that they have an understanding of the state of their cash flow as it stands, and in…

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Presman Mastermelt reopens scrap metal postal service amid Covid-19 pandemic

Precious metals processing and recycling company Presman Mastermelt has announced it is restarting its postal service for customers wanting to send their precious scrap and lemel.  The company, which is based in London’s Hatton Garden, is currently closed to visitors, and said all registered parcels will be accepted on Mondays…

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Demi+Co launches jewellery storage

Demi+Co  has announced the launch of a limited-edition series of jewellery boxes.  The online jewellery brand said the idea for the launch followed customer requests and feedback directly from social media and emails, as well as the idea that “people are spending an increasing amount of time at home decluttering…

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Alrosa ‘virtually stops’ trade in April

Alrosa Group announced it has “virtually stopped” selling rough and polished diamonds in light of the ongoing pandemic, though it has “remained committed” to its price over volume strategy. The world’s largest diamond miner by volume still sold $15.6m (£12.7m) worth of rough and polished diamonds in the month.  Revenue…

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UK economy shrinks by 2% as pandemic takes its toll

The UK’s economy shrank by 2% in the three months to 31 March 2020, as a result of the Covid-19 pandemic. This is according to new data from the Office for National Statistics (ONS), which also found that gross domestic product (GDP) fell by 5.8% during March, the largest fall…

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Chancellor extends furlough scheme until October

Chancellor of the Exchequer Rishi Sunak has extended the Government’s furlough scheme until the end of October. Announcing the decision in the house of commons today (12 May) Sunak revealed that “no changes whatsoever” will be made to the current scheme until the end of July.  However he noted that…

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Houlden announces support measures for members

The Houlden Group has revealed a wealth of measures it is using to support its members and supplier partners during the ongoing pandemic.  It initially facilitated inter-group communications between jewellers through  its website forum, interactive Zoom meetings and social media platforms like WhatsApp, using the  insights gained to “develop a…

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Safety first is the only way lockdown measures can be eased, says Usdaw

Trade union Usdaw has responded to the prime minister’s statement by urging a safety first approach to easing lockdown measures.  The union cautions non-food retailers not to open until they can guarantee staff and customer safety and urges them to adopt the joint advice agreed with the British Retail Consortium…

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