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Friday, 18th March 2005 (5926 views)

US retail analysts claim that a busy Valentine's Day this year is responsible for the bumper February the jewellery sector experienced.<br/><br/>February sales figures from the US Commerce Department, released last week, showed growth in most retail categories.<br/><br/>According to the National Retail Federation (NRF), strong sales were driven by Valentine's Day and Super Bowl. The NRF estimates that the two occasions generated a combined total of $18.7 billion in jewellery sales last month, National Jeweler reports.<br/><br/>"February's sales were especially robust, given the strong comparisons from a year ago and the persistent dreary weather last month," NRF chief economist, Rosalind Wells, said in a statement. <br/><br/>"Consumers were motivated to spend on the Super Bowl and Valentine's Day, and holiday gift cards are continuing to trickle in, which is improving retailers' first-quarter performance."<br/><br/>Clothing and clothing accessories stores, which encompasses the jewelry category, saw a February gain of 1.1 percent over January and 2.9 percent over February 2003, according to the NRF.<img alt="track" src="http://directnews.dehavilland.co.uk/dn.gif?feedid=196&itemid=8061613"/>

 

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