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Market Comment - Nov. 24, 2022
Jewelers optimistic ahead of Thanksgiving weekend. Top retailers combining e-commerce and improved in-store experience.
US online sales flat at $64.6B for Nov. 1 to 21, Adobe says. Mall-based stores discounting to compete with Black Friday online promotions.
Strong memo demand stimulating dealer market. Manufacturers cautious amid high polished inventory.
Synthetics growing, but prices continue to slide. China weak as pandemic lockdowns continue.
Chow Tai Fook FY1H sales +5% to $5.9B, profit -8% to $434M. US Sep. polished imports +18% to $1.7B, exports +24% to $1.4B.
The Rapaport Group wishes all our friends a happy Thanksgiving and a successful holiday season.