Diamonds are in the rough. It is well known that jewelry sales have taken a hit due to the coronavirus crisis. Signet, which owns Jared, “The Galleria of Jewelry,” said sales were down by 40.5% in the quarter ended May 2. With shops closed and weddings postponed, retail sales of diamonds, the bread and butter of any American jewelry store, weren’t going to look good.

Source: Wall Street Journal July 17, 2020 17:03 UTC