Jewelry sales in the US jewelry stores fell 2.1% in August compared to the same period of the previous year, to $ 2.22 billion, according to data provided by the Bureau of Labor Statistics and the US Census.
In the first eight months of this year, sales increased by 1.2% to $ 18.17 billion.
In addition, the consumer price index for jewelry (Sonsumer Price Index, CPI) to the United States fell by 2.6% in September compared with the previous month, seasonally adjusted, without adjustments, according to the Bureau of labor statistics. Rates jumped 5% a year. Also, according to these data, in August, prices rose by 4.2% compared with July and 9% compared with the previous year.
At the same time, in September consumer price index in the United States for hours decreased by 0.4% compared with the previous month, but increased by just 7% compared to last year. Prices for jewelry and watches together decreased by 1.8% compared with August and increased by 5% a year.
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Owned by Indian company TATA Titan Company Ltd reported a revenue growth of 17% in the third quarter of the financial year, to $ 504.6 million.
ReplyDeleteManaging Director Bhaskar Bhat, Titan (Bhaskar Bhat) explained in a statement on January 28 that the strong result was mainly due to an increase jewelry sales by 20% to $ 415.3 million compared to the same period last year.
Sales of watches increased by 8.2%, to $ 70.5 million profit after tax for the quarter jumped 18% to $ 33.2 million..
"The demand in the holiday season remained weak, so it was necessary to reduce the consumer circuit, - he noted Bhat -. Our efforts remain focused on creating demand through new products and expansion of the sales network, however, we continue to monitor our costs. ".
In the nine months to December 31, total revenue Titan fell by 6.4%, to $ 1.3 billion. Jewelry sales fell 9.6% to $ 1.01 billion. Profit after tax decreased by 14%, to $ 76, 8 million.