The National Trade Association Jewelers of America has released a new report, "2014 Jewelers of America Cost of Doing Business Report", the only practical benchmark for jewelry retailers in its kind. The report presents the financial results of 2013 by cutting the jewelry companies, discloses data on sales, product distribution, operating activities and high yield indicators in jewelry retail. From the report, owners and managers can learn how to make their business more profitable and compare their numbers.
"Our report is designed to make it easier for jewelers to look more closely at their balance sheets to establish business benchmarks. We are committed to helping retail jewelry companies see where opportunities are and become more profitable, "said David J. Bonaparte, President and CEO of JA.
The report analyzes a wide range of retail jewelry companies and designers with annual sales up to $ 800 thousand and more. According to JA, the profit rate of high-yield jewelers in 2013 was almost 12 percent, which is three times higher than the average for jewelry firms - 3.6 percent.
On September 10, the association will hold a free webinar, during which additional results will be announced, and retailers will be able to learn how to achieve realistic profitability goals.