Jewellers adopt positive outlook despite flat June sales

Their sentiments mirror the British Retail Consortium’s (BRC) retail figures for June, which show year-on-year UK retail sales values were 0.6% down, while total sales values were up marginally at 1.5%.

Jewellers told Retail Jeweller that sales are steady but not sparkling. Helen Molloy, director at Forum Jewellers in Broadstone, said: “We looked at June’s figures and we’re slightly down on last year, which is strange because the store has been really busy. I think it’s because customers are buying more affordable branded jewellery, so the transaction values are lower.”

The lackluster mood on the high street was echoed at multiple jeweller F Hinds. Managing director David Hinds said: “We’re doing ok but trading isn’t spectacular. People in the public sector are losing their jobs and there is a lack of confidence out there.”

Despite this, jewellers are positive about the second half of this year. Hinds said: “I think the next few months are going to be difficult but we’re reasonably positive about Christmas, weather permitting.”

Jim Sharples, regional manager for the North at multiple jeweller Fraser Hart, said that sales have settled into a “consistent positive patter” at the chain, with “lessening resistance” to gold and strong watch and diamond sales. He remains positive about the next few months. He said: “Expectations are still positive for the second half and, whilst undoubtedly the high street will remain difficult for some time, this shouldn’t be the case for all retailers and we believe in fact there will be some opportunities. The summer months are often a strong period for jewellery retail and we see no reason why this would change.”

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