Latest Retail

Luk Fook Sales Decline Slows Amid Move to Minimize Diamond Offerings

Third-quarter revenue down 6% year on year, an improvement from first half.

Figure up 4% to $994.1 billion, comparable with pre-pandemic levels, according to NRF.

A total of 720 businesses shuttered, up 15% from 628 the previous year.

Category up 14% year on year for three months that ended December 31.

Jeweler now expects same-store sales to drop between 2% and 2.5%, down from previous prediction of 3% maximum increase.

Many of the soon-to-be-shuttered shops are in California, New York, Florida and Texas.

Revenue up 9% year on year to $241.4 billion, according to Adobe.

Purchases were tempered by $122 billion in returns.

Revenue from jewelry up 26% year on year in third fiscal quarter.

Mercedes Abramo has worked for the company since 2008, starting as director of its New York flagship.

Paris Peace Forum meeting also touches on responsible sourcing, workers’ rights, and respect for local communities.