De Beers rough diamond sales ‘significantly higher’ than last year

De Beers has reported “significantly higher” sales of rough diamonds in its tenth sales cycle of the year, when compared with last year. Provisional sales including global sightholder sales and auction sales stood at $418m (£328m). This was up from the $248m (£195m) recorded last year, although is slightly down…

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Footfall falls in November despite Black Friday sales

Retail footfall decline 1% in November compared with the same month last year, despite the popular Black Friday discounting event on 25 November. The latest monthly Footfall and Vacancies Monitor from the British Retail Consortium (BRC) and Springboard found the decline was a deepening of the 0.9% fall in October…

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Beaverbrooks posts strong full-year financial results

Beaverbrooks has posted strong full-year results, which saw operating profit before distribution and tax rise to £15.2m – up from £14.3m the previous year. During the 52 weeks ending 27 February 2016, the jewellery chain’s annual report and financial statements published on Companies House showed a 5% increase in turnover…

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Hallmarking falls 4.6% in November

The total number of hallmarked items fell 4.6% in November, a decrease of 57,075 pieces when compared with the same month last year. The latest figures from the four UK assay offices – compiled by the Birmingham Assay Office – found there was a total of 1,196,702 articles hallmarked during…

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Consumers set to spend ‘£1.6bn more’ this Christmas

Retail sales this December are forecast to rise by 4% year-on-year, with consumers expected to spend £42.8bn – £1.6bn more than Christmas last year. The research – released by business advisory firm Deloitte – also found online retail sales are expected to grow by more than a fifth (21%) from…

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De Beers unveils £3.9m expansion of its Surat diamond grading centre

De Beers, the world’s largest diamond mining company, has unveiled an expansion at its Surat diamond grading and testing centre. The $5m (£3.9m) expansion plan at its International Institute of Diamond Grading and Research (IIDGR) – part of the De Beers Group of Companies – follows the group’s initial $10m…

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Raid at Edinburgh jewellers after thieves smash through neighbouring barbers

Jewellery has been stolen from an Edinburgh jewellers after a gang of raiders smashed their way through the wall of a neighbouring barbers to gain entry. Thousands of pounds worth of 18-carat diamond pendants and bracelets were stolen from Theodore David Jewellers in Inverleith, Edinburgh, on Sunday 4 December after…

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SME growth threatened by ‘unpaid debts’

Over three quarters (75%) of a small and medium-sized business (SMEs) have written off unpaid debts in the past year, according to research from Amicus Commercial Finance. The report found the average amount written off by UK SMEs in the last year was £11,708, representing just under £50bn in written…

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FF Group reports revenue jump despite “volatile” markets”

FF Group – owner of Links of London and Folli Follie – has posted revenues of €956.2m (£814m) in the first nine months of the year, despite “volatile” markets. The posted revenues were a 9.2% increase on the same period last year when the company reported revenue €875.5m. Earnings before…

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Polished diamond prices increase in November

Polished diamond prices increased in November, despite a slowdown in trading as Indian liquidity dried up and manufacturing shut down for Diwali. The latest RapNet Diamond Index (RAPI) from the Rapaport Group sentiment improved as the month began, with stock markets rallying to record highs on Thanksgiving weekend (28 Nov)…

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