French jeweler Cartier has filed suit against QVC Inc. and two of its watch suppliers, JMAM LLC (dba. Joan Rivers Worldwide Enterprises) and TWI Watches LLC, alleging that some of the watches the defendents have sold infringe on several Cartier designs. JCK Online Feb. 25, 2009
Feb 252009
Feb 252009
“The retailer, which operates Saks Fifth Avenue, said Wednesday that it lost $98.75 million, or 72 cents a share in the quarter ended Jan. 31. That compared with a profit of $39.47 million, or 26 cents a share, in the period a year ago.” Same-store sales dropped 15 percent in the fourth quarter compared to the year-ago period. Earnings season also brought a sign of trouble at the discount end of retail. TJX Companies, which operates T.J. Maxx and other discount stores, reported a drop in net income to $250.7 million, or 58 cents a share, from $301.1 million, or 66 cents a share, a year earlier. The New York Times Feb. 25, 2009
Retailers Confirm Weak Sales with 4Q and Full-Year Earnings Reports
Bricks-and-Mortar, Research, Trends, Forecasts
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Feb 242009
Macy’s, Home Depot, Target are among the American retailers reporting steep profit declines, amidst what Macy’s president and chief executive, Terry J. Lundgren, characterized as, “the worst economic environment of our generation.” The New York Times Feb. 24, 2009
Two Diamond Mines in Botswana Temporarily Close on Falling Demand
Gemstones/Gemstone jewelry, International, Suppliers
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Feb 242009
In response to a precipitous fall in the demand for diamonds in recent months, Debswana — the mining company jointly owned by De Beers and the Botswanan government — has closed the Orapa and Damtshaa mines in northern Botswana. Half of the landlocked, southern African nation’s finances come from diamond trading. Radio France Internationale (English Language) Feb. 24, 2009
Canadian Retail Sales in December Suffer Biggest Drop in 15 Years
International, Research, Trends, Forecasts
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Feb 242009
Widespread declines in all sectors pushed retail sales down 5.4 per cent in December to $33 billion. Sectors traditionally associated with holiday shopping, such as sales at clothing and accessories stores, fell 3.7 per cent, continuing several months of declines. The Canadian Press on Google News Feb. 23, 2009
De Beers’ Biggest Fear — The Enormous Supply of Diamonds in Public Hands
Gemstones/Gemstone jewelry, Suppliers
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Feb 242009
Forget about the predictions of South African industry analysts that the price of rough-cut diamonds could fall another 60%. What keeps De Beers executives up at night are the more than 500 million carats of gem diamonds in public hands (or on them and in safety-deposit and jewelry boses). That’s more than 50 times the number of gem diamonds produced by the diamond cartel in a year. “The moment a significant portion of the public begins selling diamonds from this prodigious inventory, the cartel would be unable to sustain the price of diamonds, or maintain the illusion that they are such a rare stone that their value is, as the ad slogan claims, ‘forever.’” International Herald Tribune Feb. 23, 2009
QVC Trims Workers’ Hours and Raises
DRTV Retailer, USA
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Feb 232009
In its most recent move to reduce staffing levels in the face of declining sales volume, QVC is reducing work hours by the equivalent of about a day a week for call-center employees in in San Antonio, Texas; Chesapeake, Va.; Port St. Lucie, Fla.; and distribution-center workers in Lancaster; Rocky Mount, N.C.; Florence, S.C.; and Suffolk, Va. In addition, the retailer is also reportedly suspending merit pay increases across the board. Delaware County Local Times (PA) Feb. 20, 2009
HSN Counters Oscars with Paula Abdul Jewelry and Accessories
DRTV Retailer, Fashion/Costume jewelry
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Feb 202009
Paula Abdul’s Forever Your Girl line of jewelry and accessories will be offered Sunday, Feb. 22, at four different times: midnight to 2 AM, 10 AM to noon, 4 to 5 PM, and 9 – 11 PM. OK! Magazine Feb. 20, 2009 Also, a pumped-up Paula tells People magazine that the line will soon extend into fragrance and active wear. People Feb. 20, 2009
HSN Promotes Bill Brand Executive Vice President, Programming, Marketing and Business Development
DRTV Retailer, Talent
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Feb 202009
Marketing and business development functions are new additions to the portfolio of this veteran of network television programming. HSN Press Release via PR Newswire Feb. 19, 2009
Dell to Launch New netbook PC — First on QVC, then on Dell.com
Consumer Electronics & PCs, DRTV Retailer, Suppliers
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Feb 202009
Computer maker Dell will begin accepting “pre-orders” for its new Inspiron Mini 10 netbook through QVC about a week before Dell starts taking advance orders on its own Web site. Here’s why according to a Dell spokesmann, “”Because netbooks are a new PC category, particularly with non-technical, mainstream consumers, a conversational, demonstration-centered experience like a QVC [TV] spotlight segment is an ideal venue to inform, engage, and excite.” Say it on, brother… Betanews Feb. 19, 2009
