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Archive for March, 2011
Diamond Theft Rocks Jewelry Show
Author: admin
BY JOHN REVILL
ZURICH—Diamonds worth several million dollars have been stolen by thieves from the Baselworld watch and jewelry show, police said Wednesday.
A gang of five snatched gemstones from a display in Hall 3 of the giant show, the world’s largest display of luxury watches and jewelry.
Two of the thieves distracted a stand operator while the other three broke into a display and stole four diamonds at around 11am local time, Markus Melzl, spokesman for the Basel state prosecutor said.
They then apparently succeeded in escaping from the hall with the jewels worth several million dollars, Mr. Melzl said.
The theft …
read comments (0)Signet just edges profit views
Author: admin
The retail jeweler, which operates Kay Jewelers and Jared The Galleria of Jewelry, said Q4 EPS rose 14% to $1.55, beating views by a penny. Revenue for the world’s largest specialty jeweler grew 6% to $1.27 bil, helped by seasonal bridal and exclusive product sales. Revenue at stores open at least a year climbed 8.1%. Signet Jewelers (SIG) said rising costs weighed down results. It edged up 0.7% to 45.10.
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The major indexes achieved solid gains and closed near session highs on Tuesday, after shaking off early losses. The Nasdaq composite tacked on 1%, the SP 500 0.7% and the NYSE composite 0.6%. Volume increased on the NYSE, but dipped slightly on the Nasdaq, according to preliminary data. After …
03/29/2011 05:04 PM ET
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Sales brighten Tiffany’s outlook
The high-end jeweler’s Nov. and Dec. sales climbed 11% to $88.5 mil at its stores worldwide, signaling a rebound in the luxury market. Tiffany’s (TIF) Asia/Pacific sales surged 23%, European sales rose 13% and revenue in the Americas increased 9%. Tiffany raised its full-year forecast, implying Q4 …
01/11/2011 06:30 PM ET
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Skier Customer Set Blue Nile’s Mobile Course
A year ago, executives with online jeweler Blue Nile hadn’t thought much about letting customers buy products via cell phone. But a phone call from a customer during the 2009 holiday season put the future into better perspective, says Diane Irvine, Blue Nile’s (NILE) CEO. “We had one gentleman, a …
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Fossil Climbs To New High On Retail Data
Jewelry companies, one of the top industries in IBD’s 197 groups, are among the top performers so far this week. A 26% jump for the week by low-priced, thinly traded Charles Colvard (CTHR) influenced much of the advance. But the group’s underlying strength shows in higher-quality stocks such …
12/02/2010 06:42 PM ET
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J. Crew Accepts $2.9 Bil Buyout
8. The apparel chain OK’d a $43.50-a-share cash offer from 2 private equity firms. J. Crew (JCG) shot up 17% to 43.99, suggesting investors expect a better bid. Shoe retailers DSW (DSW) and Genesco (GCO) reported strong Q3 results, while jeweler Signet (SIG) swung to a surprise profit. Shares of …
11/23/2010 07:01 PM ET
Another lawsuit connected to Cowboys receiver Dez Bryant
Author: admin
In case you missed it in Tuesday morning’s Los Angeles Times, the LATExtra includes a fun, fashion-related story about a 61-year-old cancer survivor from Altadena who makes and sells a line of jewelry crafted from expensive but unused cancer-fighting pharmaceuticals.
According to Bob Pool’s article, Susan Braig traces the genesis of the line — called Designer Drug Jewelry, back to 2004 when she started chemotherapy to treat breast cancer, and found herself forking over $500 in out-of-pocket expenses for her first round of medication.
“I looked at the drugstore receipt and then at the little pills and wondered if they were precious gems,” Braig said.
She first turned the pills into jewelry for a 2007 medically themed art exhibition and performance event organized by the NewTown Pasadena Foundation, for which she had crafted a princess tiara encrusted with her leftover cancer meds. Pool says Braig has been making and selling her handiwork ever since.
Braig’s pieces sell for between $15 and $150 at craft fairs (she lists upcoming appearances on the line’s Facebook page.
If you have the time, you should read Pool’s much-more-detailed article in full (it also includes a video); Braig’s story makes turning lemons into lemonade seem like child’s play.
– Adam Tschorn
Photo: Prescription pills and capsules sit alongside jewelry-making supplies at Susan Braig’s Altadena home. The 61-year-old cancer survivor has been turning pharmaceuticals into jewelry since 2007. Credit: Irfan Khan / Los Angeles Times
Tuesday, March 29th 2011, 5:39 PM
Hollywood hardware
Would you buy some of Elizabeth Taylor’s jewelry?
Elizabeth Taylor fans will soon be able to own a small piece of the actress’ legacy: her jewelry.
People Magazine reports that the fate of Taylor’s extensive jewel collection will lie with Christie’s, a London-based auction house. Taylor’s massive array of diamonds, gems and pearls is reportedly valued at $150 million.
According to Peter Sedghi, President and CEO of Luxury Jewels of Beverly Hills, Taylor was more than your average collector.
“To be honest, she knew more than I did about jewelry. When you would show her stones, she would tell you the origin, if it’s good quality, bad quality, where it came from. She had a collection like I’ve never seen before.”
In 2002, the beloved Hollywood icon even wrote on a book about her collection titled “Elizabeth Taylor: My Love Affair With Jewelry.”
Sedghi added that many of the pieces had sentimental value for the actress. The collection includes a 33.19-carat Krupp diamond from her fifth husband, Richard Burton, and a crystal and diamond lily of the valley brooch from her Cleopatra co-star Rex Harrison.
Christie’s has yet to confirm whether the proceeds from the auction will be donated to charity. Throughout Taylor’s life, she was involved with numerous humanitarian organizations and in 1993 founded the Elizabeth Taylor AIDS Foundation.
Taylor passed away last week at the age of 79.