Sales of specialty jewelers in the US fell in July, respectively, a decrease reported by the largest US jewelry retailers in the second quarter.
According to the US Census Bureau, during the month of sales fell by 2.2%, to $ 2.1 billion in retail outlets, realizing only jewelry and watches. The data do not include sales in the networks of department stores and other multi-channel retailers.
Company Signet Jewelers reported that same-store sales at its Sterling division, the largest specialty jewelry retailer in the country, which includes the network and by Jared Kay, in the reporting period (31 July) fell by 3.1%. The American jeweler Zale's network, which is also part of Signet, same-store sales fell 2.2%. Tiffany & Co reported a 9 percent drop in same-store sales in the Americas during the quarter.
Trading conditions were difficult, especially in volatile regions, said Mark Layt (Mark Light), Signet's CEO, in a teleconference with analysts on the occasion of the reporting output. He also noted that this year, on the minds of the average American influenced Britain's decision to leave the EU and the US presidential campaign.
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True North Gems Inc. It announced that it has commenced production of rubies and pink sapphires on the field Aapalutok (Aappaluttoq), located in Greenland.
LNS Greenland, the company's joint venture partner, leading the development of the mine, was appointed operator of the project. Rock processing system and the recovery of precious stones are being shipped to Greenland. It is expected that in the fourth quarter of 2015 and the first quarter of 2016 the company will be able to create an adequate supply of ore to the processing plant to provide raw material immediately after its commissioning.
"On behalf of True North Gems Inc., True North Gems Greenland A / S and all our working partners, I am very pleased to report that we have started to work on the project Aapalutok", - said the president of True North Gems Nicholas Houghton (Nicholas Houghton). "Despite the difficult period for the mining industry with a lot of financial problems, it is gratifying to see that the work of all employees of the company starts to materialize, and the shareholders of True North finally see the start of production on the project."
"This is a historic day for the revival of the mining industry in Greenland", - said Olsvig Bent Jensen (Bent Olsvig Jensen), Managing Director of True North Gems Greenland A / S. "Now we look forward to the commissioning of Greenland newest mine, which is expected to be one of the most advanced projects for the production of colored gemstones in the world."
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