Friday, 18th March 2005 (3921 views)

US retail analysts claim that a busy Valentine's Day this year is responsible for the bumper February the jewellery sector experienced.

February sales figures from the US Commerce Department, released last week, showed growth in most retail categories.

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.

"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.

"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."

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.

 

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