sales in American jewelry stores showed an increase of 9.9% on a year-on-year basis, to $ 2.31 billion, Rapaport reports. In addition, the consumer price index (CPI) for jewelry in March fell by 2.9%.
Throughout the first quarter of the year, sales in jewelry stores showed good performance. According to the results of the 1st quarter, the sales growth was registered at 8.2% in the year-on-year terms to $ 6.99 billion, while the CPI in each of these months declined.
According to the latest estimate of the results of sales in American department stores, in April there was a decrease in sales by 6.9% in the year to $ 13 billion.
A recently published report by the National Retail Federation (NRF) says that improving employment and revitalizing the stock markets has ensured a growing consumer confidence that has intensified purchases.
However, as noted by NRF's leading economist Jack Kleinhenz (Jack Kleinhenz), there is no guarantee that retail sales and buying activity, observed in April, will determine the improvement in performance for the second quarter.