Economy

Hallmarking edges up in February as number of gold articles jump

The total number of hallmarked items rose by 0.8% in February, an increase of 5,970 articles compared with February 2015. That’s according to the latest figures released today by the four UK assay offices, and compiled by the Birmingham Assay Office, which found there was a total of 766,310 articles…

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Retail footfall declines in February

Retail footfall has declined by 1.1% in February compared with the same period last year, according to the British Retail Consortium.  UK Summary Footfall in February was 1.1% down on a year ago, lower than the 1.2% rise seen in January and lower than the three-month average rate of -0.8%.…

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Retail sales slow in February

Retail sales slowed to a near standstill in February, as like-for-like sales grew by just 0.1% compared with the same month last year. That’s according to the British Retail Consortium (BRC) and KPMG Retail Sales Monitor which found on a total basis sales were up 1.1%, against a 1.7% rise…

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UK shop prices fall for 34th consecutive month

Shop prices fell 2% year-on-year in February, the 34th consecutive decline following January’s 1.8% fall. That’s according to British Retail Consortium (BRC) and Nielsen’s monthly Shop Price Index, which found non-food deflation, which includes jewellery, remained at 3% for the third consecutive month. On a 12-month average basis, the index…

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De Beers says rough diamond demand ‘is improving’

Demand for rough diamonds continues to improve for De Beers as it announces an increase in sales for its second sales cycle of 2016. According to its preliminary report for the second sales cycle of the year, the company sold $610m (£435m) worth of rough diamonds, taking into account global…

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Polished diamond prices remain firm in February

The price of polished diamonds continued to rise in February continuing the uptrend since November, according to new figures. The latest RapNet Diamond Index (RAPI) from the Rapaport Group said the market was supported by continued shortages, while trading slowed during the month as dealers in China and Hong Kong…

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Signet Jewelers announces strong fourth quarter

Signet Jewelers, one of the world’s largest  retailer of diamond jewellery, has reported a strong fourth quarter in its latest preliminary trading update. In the 13 weeks ending 30 January 2016, the company reported same store sales increased by 4.9% compared with the same period a year earlier with diluted…

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Mobile devices account for 51% of all online sales in Q4

The percentage of online retail sales in the UK exceeded 50% for the first time ever in the fourth quarter (Q4) of 2015, according to new figures released. According to data from the latest IMRG and Capgemini Quarterly Benchmarking report, smartphones and tablets accounted for 51% of UK online retail…

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Executive Development Forum retail sales hit £41m

The National Association of Jewellers (NAJ)’s Executive Development Forum (EDF) has reported combined retail sales exceeding £41m in 2015. The sales are a like-for-like growth of 4.7% compared with the previous year. Despite this, 42% of the individual members businesses were down, 42% up and 16% level with the previous…

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Hallmarking down 9.1% in January

The total number of hallmarked items fell 9.1% in January, a decrease of 67,252 articles when compared with January 2015. That is according to latest figures released today by the four UK assay offices, and compiled by the Birmingham Assay Office, which found during the month there was a total…

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