Editor’s Note
The U.S. jewelry industry’s contraction eased in Q1, with 159 companies exiting—down from 212 a year earlier. While closures slowed, the sector still shrank 2.4% year on year to 21,949 active firms. Retailers bore the brunt of the decline, while new business formation remained sluggish.
The US jewelry industry’s downsizing rate slowed during the first quarter, according to the latest data from the Jewelers Board of Trade (JBT).
In the three months that ended March 31, 159 companies exited the sector, versus 212 in the same period a year earlier, the group reported Monday. In total, there were 21,949 companies active in the US industry at the end of the quarter, 2.4% fewer than in the same period of 2025.
Of the businesses that discontinued operations, 20 dropped out due to mergers or takeovers, six went bankrupt, and 133 closed for other reasons. Meanwhile, the number of new businesses slipped to 87 from 90 the year before.
Retailers still constituted the bulk of the sector at 16,667 — down 2.4% year on year. Wholesalers slid 1.7% to 3,216, while the manufacturing industry contracted 3.1% to 2,066 businesses.
JBT, which provides credit information for the trade, downgraded 565 companies’ credit ratings across the US and Canada during the quarter, as opposed to 707 a year ago. It also raised the scores of 595 businesses, compared to 662 in the first three months of 2025.
Image: A jewelry store display. (Shutterstock)
