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Maltby Jewelers Outlook Lackluster

Maltby Jewelers Outlook Lackluster - Maltby Jewelers...

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Maltby, Jewelers’ Outlook Lackluster, WSJ, Nov. 2009. http://online.wsj.com/article/SB10001424052748704328104574515452038687082.html#print Mode “Jewelers' Outlook Lackluster. Amid Struggle, Some Small Shops Find Ways to Shine.” By EMILY MALTBY Foss Jewelry was honored by the Maine Legislature in September for reaching its 90th year in business. But like many jewelry retailers across the country, the family-owned store may have just celebrated its last birthday. "We've talked to an accountant and we've decided to try to get through Christmas," says Anne Winter, manager of daily operations at the store, located in Livermore Falls, Maine. "At that point, we'll see if we will liquidate and close down." The store only sold one diamond ring last holiday season, relying on sales of cheaper, sterling- silver pieces and other gift items to bolster profits. Then one of the town's paper mills shut down, laying off hundreds and crimping the town's economy. Some days, Ms. Winter says, she is lucky to make $20 selling watch batteries. As younger generations become less interested in jewelry and as Americans gravitate to online shopping for convenience and bargains, Main Street jewelers and jewelry retailers are struggling to attract customers. The recession, which has spurred many consumers to think twice before
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