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A celebration of Bridgeport’s finer things is planned for Sept. 10 when Seaside Park’s recreated Lady Liberty statue is unveiled at a benefit for the nonprofit City Lights Gallery amid a setting of rare vintage automobiles.

Dragone Classic Motorcars, 1797 Main St., Bridgeport, will be the setting for Friday’s event,thanksgiving gift ideas, sponsored by Pullman & Comley, one of Connecticut’s largest law firms.

The benefit reception, which runs from 6 to 9 p.m., will feature the debut of the just completed Lady Liberty statue by Vermont artist Emily

Bedard. Tickets are $40 per person.

"This is truly a celebration of Bridgeport’s finer things: a celebration of fine art, fine food,Charm bracelet, fine automobiles and fine architecture," says Suzanne Kachmar, City Lights gallery director.

The statue will soon be placed atop Seaside Park’s Civil War Soldiers and Sailors Monument, originally dedicated in 1876, replacing the original marble Liberty that was destroyed by vandals in 1969. Creation of the new statue was funded through $7,500 in donations raised by Friends of Seaside Park, a decades-old organization that has undertaken numerous beautification projects through the years at the park, which borders Long Island Sound.

Rededication ceremonies, which will be open to the public free of charge, are scheduled for Saturday, Sept. 18, at 11 a.m. Featured speakers will include Mayor Bill Finch, City Historian Mary Witkowski, City Lights Chairman of the Board Nathaniel Plotkin and Thomas Errichetti, treasurer of Friends of Seaside Park and catalyst for the restoration project.

Errichetti said that the statue project would be the final undertaking of Friends of Seaside Park, which will soon be disbanded, since many of its most ardent members have either moved away or died.

With the statue finally replaced, "our mission is accomplished" as an organization, he said. By restoring the monument to its former glory, "we are paying homage to the memories of those who died in the Civil War, to our heroes." And a restored monument also will add luster to Seaside Park, "which, I believe, to be one of the city’s real jewels."

When Errichetti began his artist search, he turned to Kachmar for recommendations. Kachmar, in turn, suggested that Errichetti speak with her friend, Lyme Academy instructor James Reed, who recommended Bedard.

In a recent chat from her Milton, Vt., home-studio, artist Bedard, 23, said that she has been working on creating the new statue for about a year — ever since winning the commission last spring, a few weeks prior to graduating from the Lyme Academy College of Fine Arts in Old Lyme.

Bedard initially designed a statue in clay, from which a mold was made. Using that mold, a permanent statue has been created using a lightweight gypsum polymer reinforced with fiberglass — a common combination for architectural detail work, she said. "It’s a cheap but durable" process, that will mimic the original white marble quite well,Bead bracelet, she said.

At about 6 feet, 6 inches tall, the statue weighs in at about 170 pounds, Bedard noted.

"We wanted to keep it as authentic as possible, although I didn’t have much (reference material), except for a few old newspaper clippings and postcards," Bedard said, laughing, "so I suppose you could say this is my interpretation of the original, based on a lot of research of the period."

Bedard referred to this Lady as an "armed liberty," which is traditionally depicted wearing armor and carrying a sword. She also holds a laurel wreath as a symbol of victory.

"I have always had a love of traditional representational sculpture . . . and I took this commission with the intention of carrying on that tradition through hard work and craftsmanship.

"There were times when I felt that I was way over my head," said Bedard, laughing, of her first professional commission. "So many times I wanted to give up, but perseverance was the key." Although she is pleased with the outcome, Bedard said she will not rest easy until the statue is secured to the monument at Seaside Park. (On Wednesday, Bedard will personally drive Lady Liberty from Vermont to Bridgeport in her own van; she’ll remain here through the rededication ceremonies.)

George Dragone, of Dragone Motorcars, said that the Main Street showrooms are well suited to host the unveiling party, noting that both his building and the Civil War Monument are products of the 19th century. He said that a portion of the restored building dates to 1854, at the time used as a blacksmith shop and general store, while other areas of the building were used as stables and date to the 1880s.

On display during the reception will be a selection of "museum-quality steam-, electric- and gasoline-" powered autos from the late-19th century and the turn-of-the-20th-century,shop for tiffany bracelets, Dragone said, including an 1898 Riker Electric vehicle and a 1905 Renault limousine once owned by New York socialite and arts benefactor Sarah Cooper-Hewitt.

Dragone, whose company specializes in the restoration of classic automobiles,tiffany bangles on sale, said "we have customers from all over the world — from China, Russia, South Africa — coming here to Bridgeport. As longtime supporters of City Lights, we thought it would be a nice opportunity for locals to come here and see what we do — and take a walk back in time while supporting the gallery."

To reserve tickets for the unveiling event, contact Suzanne Kachmar at City Lights Gallery at 203-334-7748, by e-mail at citygallerybpt@gmail.com or on the Web at www.citylightsgallery.org. Tickets also may be purchased at the gallery at 37 Markle Court in downtown Bridgeport. Gallery hours are Wednesday through Friday from 11 a.m. to 5 p.m., Saturdays from noon to 4 p.m. For a sampling of autos in the Dragone collection, visit www.dragoneclassic.com.

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It’s all in the bag for budding media and fashion group MenInvest and its high-end accessories label for guys, Estime.

We really saw a niche for elegant men’s accessories, but priced more affordably than most luxury brands,cheap tiffany earrings, said Audrey Montacel, a Louis Vuitton alum, who co-founded Estime in 2009 with business partner and MenInvest founder Marc Menas.

Prices range from around 69 euros, or $87 at current exchange, for a laptop case to 579 euros, or $728, for a garment bag. MenInvest operates fashion, digital, e-commerce and media activities focused on men. The group in February received a capital increase from AXA Private Equity, which took a minority stake,necklaces, and has an Estime boutique at 61 Rue Bonaparte in the heart of Saint-Germain. Meanwhile, its multibrand shop,buy tiffany bracelets, Menlook, and its bespoke shirt and suit label,thanksgiving jewelry, Saint-Sens, are located just next door at number 59.

A second Estime location is slated to bow in Lyon, France, in September, while plans for international expansion are also under way. Billing its style as gentleman tech, the collection, which is entirely made in Spain from exclusive European textiles and leathers, ranges from exotic iPhone holders and leather envelope pouches to supple travel bags. A 48-hour duffel bag,tiffany rings on sale, for example, offers colored bands and vivid contrast or Liberty-print linings.

We studied every aspect of men’s accessories, from how many cards a wallet should ideally carry to the most ergonomic accessory forms, Montacel said.

Starting next month, Estime, which is already available online at estime.com, will be sold in London’s Fenwick department store.

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Individuals concerned about cost-cutting in the National Health Service should be wary of signing up to private medical insurance deals that appear to offer large no-claims discounts, advisers have warned.

No-claims discounts (NCDs) have been offered by private medical insurers for many years, enabling policyholders with the cleanest of claims records to get premium reductions of up to 75 per cent, and cut the cost of private treatment.

Discounts increase for each year that a policyholder does not make a claim, over timescales of up to 7 or 14 years – andpolicyholders are moved backwards on the discount scale if a claim is made.

However, specialist private medical insurance (PMI) advisers say there is a big variety in the types of NCDs offered by different insurers.

"Some insurers start new members on a high level of discount, while others enrol new members at a lower level," said Brian Walters, principal of health insurance brokerage Regency Health. "Equally, some discount structures are more punitive than others, with members typically losing between 10 per cent and 25 per cent of their discount for a single claim, depending on the insurer."

Walters added that the the variation of no-claims discounts is a particular problem on price comparison websites. Premiums that appear to be thecheapest in the market might be dependent on the maintenance of a high discount – meaning that the policyholder has to avoid making claims to keep the premium low.

"High starting discounts and sharp falls are likely to result in premium instability," Walters warned.

Insurers are also continually modifying their policies. Aviva has recently given policyholders the option to protect their no-claims discounts by paying a small additional premium. The add-on means that if a claim is made, the policyholder does not drop down the NCD scale on renewal.

These discounts are being offered as concerns grow that the government axe will fall hard on spending in the health sector, with warnings that common operations – such as cataract and hip replacements – are to be rationed.

The Con-Lib coalition government has said it is committed to real-term increases in NHS funding each year. But it is also seeking 20bn of "efficiency savings" from hospitals in England and Wales by 2014.

Financial advisers said that anyone thinking about private treatment will need to make sure that a policy is suitable, particularly if family members are to be covered.

"Bupa and Axa have NCDs for individuals, while Aviva does not allow child-only policies and would roll the NCD into one policy for the family," points out Gemma Harris,Charm bracelet, operations director with Chase Templeton, a specialist PMI adviser. "This means that if a child needed treatment on the Aviva policy,Charm pendant, the overall cost of the policy would increase. We would recommend a plan which was a per-person policy."

Older people should also be wary of signing up to a PMI policy that penalises them for making claims – as is the case with an NCD contract.

"I would never advise a client aged 55 to 70 to buy a policy with an NCD," says Andrew Tripp, chief executive of Perfect Health, the brokers. "If you were in this age group, I would suggest saving costs by buying a budget policy that covers in-patient treatment only. The savings you make can cover the incidental costs of outpatient treatment, such as seeing a consultant."

Aviva said this week that it expected its new Healthier Solutions NCD model "to see people choose not to claim for the more minor,pendants, outpatient type of treatments in the future".

But it claimed that many customers valued the NCD,bracelets, stating: "While we appreciate that this will not suit everyone, customer feedback and the popularity of our other products offering [NCDs] confirmed that many customers favour,key rings, and indeed expect, this approach."

Policyholders looking for an alternative to NCD-based plans have other low-cost options. The "shared responsibility" plans offered by SimplyHealth and Western Provident Association (WPA) can cut costs, as the policyholder agrees to pay a set percentage of any claim. This can reduce premiums significantly.

General Medical, Freedom and PHC also have traditional plans that are not linked to NCDs.

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This Market Report examines the UK jewellery and watches Return to Tiffany, with the jewellery sector being segmented into the categories of real jewellery (gold, silver and platinum) and fashion/costume jewellery. Total sales of jewellery and watches in the UK fluctuated between 2004 and 2008, and fell by 2.8% in the latter year to finish the review period at Pounds 4.33bn.

The declining sales in 2008 can be largely attributed to the global economic downturn and UK recession, which have had a negative impact on nearly all industries. The volume of jewellery pieces hallmarked in the UK was significantly down in 2008, compared with 2004, as retailers sought to clear their existing slow-moving stock. Furthermore, as consumers have cut back on spending during the recession, there has been pressure in the market to reduce prices which, combined with lower volumes, has meant an overall downturn in sales. Initially, the luxury end of the market was relatively unaffected by the downturn, but by the end of 2008 and early 2009, it had begun to take effect.

The jewellery and watches market has become increasingly competitive in Return to Tiffany Double Heart Pendant years. Although the industry has always been fragmented with a wide range of suppliers and retailers, developments in online retailing have contributed to it becoming increasingly transparent for information on pricing and availability. This has been a positive trend, especially for many smaller brands that previously were not able to deal directly with consumers. Some larger retailers, as well as a few independents, have also developed transactional sites to deal with this demand. Positive trends in the jewellery market have included high levels of spending in the wedding market; however, the number of marriages in the UK continues to show an overall decline. The increasing number of self purchases (i.e. bought for oneself rather than as a gift) has also contributed to greater volume sales over the past decade, among men as well as women. In addition, the inclusion of jewellery as part of seasonal fashion collections and the introduction of seasonal ranges among retailers and suppliers have also boosted sales. With around a third of the UK population owning a piece of precious jewellery and nearly nine in ten owning a watch, products have a high rate of consumer penetration.

The downturn in the UK economy is unlikely to show a reversal in 2009, and Return to Tiffany Heart tag bracelet will continue to affect all areas of consumer spending. The report forecasts that sales of jewellery and watches will continue to show a decline in 2009 and 2010, before beginning a slow recovery thereafter.

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Brooke Skinner made the Symmes Valley Lady Vikings a winner.

Skinner went 4-for-4 with six runs batted in as the Lady Vikings blanked the Federal Hocking Lady Lancers 10-0 to win the Div. IV sectional tournament.

“It was a nice first tournament game,” said Lady Vikings’ coach Jeff “Odie” Estep.

“Brooke Skinner had a whale of a game and Nikki Nance did great job keeping the discount tiffany low and keeping the hitters off-balance with her change-up.”

Nance got the win as she pitched a four-hitter. She struck out eight and did not walk a batter.

Symmes Valley took a 3-0 lead in the first inning.

Nance walked, stole second base and scored on a hit by Skinner. Chelsea Wall singled and the duo pulled off a double steal. Erica Corn reached on an error as Skinner scored and Kayla Ross hit into a fielder’s choice to score Wall.

The Lady Vikings got a run in the second when Jessie Morris singled, Nance hit into a Tiffany Bangles choice and Skinner had an RBI single.

The Lady Vikings ended the game early with six runs in the sixth inning.

Ada Humphrey was safe on an error and Morris singled to start the inning. Nance singled to load the bases and Skinner cleared the bases with a triple off the top of the fence.

Wall singled home Skinner, Corn reached on an error, both moved up on a wild pitch and Ross was hit by a pitch to reload the bases.

Brittany Foster hit into a fielder’s choice to score a run and a wild pitch scored Corn to end the ball game.

Symmes Valley (21-5) plays Sciotoville East at 4:30 p.m. Tuesday at Tiffany Bracelets.

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Sym. Valley 310 006 = 10 9 0

Hill and Tinkhan. Nikki Nance and Chelsea Wall. W-Nance (8-K, 0-BB). L-Hill (3-K, 4-BB). 2B-FH: Hill. 3B-SV: Brooke Skinner. Hitting-Federal Hocking: Vinson 1-3, Hill 1-3, Hatfield 1-2, Spears 1-2; Symmes Valley: Brooke Skinner 4-4 6-rbi, Jessie Morris 2-4, Chelsea Wall 2-4, Nikki Nance 1-3.

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Soccer people call these kind of plays 50/50 balls, because two players on Tiffany Money Clips team presumably have an equal chance to gain control of the ball.

Maggie Bosley, a South Aiken senior center midfielder, has a way of tilting the odds of these moments to her advantage. She won a 50/50 ball in the middle of the penalty box and whistled in a shot to start the scoring of her team’s Class AAA state quarterfinal against Airport on Friday night.

“If there is a 50/50 ball on the field, she’s the girl we want going after it,” South Aiken coach Jason Holt said.

Bosley, a Wofford recruit, helped South Aiken to its 10th consecutive win, a 4-0 rout of Airport. South Aiken beat its region opponent for the fourth time this season and will play at Hilton Head Island in the semifinals Monday. The winner will play for the state title Friday in Columbia. South Aiken lost in the state final 2-0 to Riverside (Greenville area) a year ago.

South Aiken (19-2-2), whose only losses this year have come against Class Tiffany CuffLinks teams White Knoll and Wando, shut out its sixth consecutive opponent and did not allow Airport to take a shot on goal.

The Thoroughbreds had won their previous two playoff games by a combined 19-0 and had beaten Airport 2-1, 3-2 and 4-0 earlier in the year. It took South Aiken nearly the entire first half to register a goal, but once it did even a 1-0 lead seemed insurmountable.

Anna Loudermilk scored two second-half goals in the final 11 minutes for South Aiken, which outshot the visitors 18-0. Amanda Harris also scored for South Aiken.

“It just took us a little while to wake up as a team,” Holt said. “Our touches were a little off. I don’t really have a n explanation for why, but once we warmed up and started to get a little hungry, we got back in the rhythm of the team we think we can be. Once we get close to the goal and see our captains start to lead the way, the whole team rallies behind them and we start to play good soccer”.

The first goal was the most important against a team Holt said he expected to play a defensive game and attempt to take the Thoroughbreds to penalty kicks.

That plan scooted awry six minutes before the half, when Bosley fought off a defender inside the box, chased a well-touched pass from Harris and gained control of the ball. From there, all it took was a simple touch to beat Airport goalkeeper Cassie Shumpert. It was the Thoroughbreds’ 12th shot of the half, Tiffany Key Rings included a scorching strike from Bosley 15 minutes into the game that smashed off the crossbar.

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Something extraordinary happened in central London recently: a host of celebrities, from Sting to Sharon Osbourne, opened their tiffany jewellery boxes to the public. The occasion was an exhibition at Browns South Molton Street called My most treasured . . .

And the objects ranged from a purely sentimental piece lent by Paul Smith to earrings from Trudie Styler that required a security guard. As a group, says Joan Burstein of Browns, the jewels showed that “it’s what a piece means to someone that makes it priceless to the owner”. Jewellery is not just about carats, but emotion.

“I think there has been a loss of connection between the person who buys jewellery and the people who create it,” says Harry Fane, owner of Obsidian, a private gallery in London. It is this disconnect that a spate of recent exhibitions, including the one at Browns, have been attempting to redress. Last week, for example, Fane began a series of exhibitions, called At the Table, to introduce the work of lesser-known jewellers to his clients. “I don’t mind if it’s plastic or diamonds, as long as they are nice things to have,” he says. “I’m saying I like the stuff and I believe in what I’m showing.”

First to be invited to sit at Fane’s table was US designer Peggy Guinness, who specialises in flamboyant “day” jewellery. Prices range from pound(s)900 to pound(s)10,000 and a percentage of sales will go to the Kartika Soekarno Foundation, which works to improve the prospects of Indonesian children. She will be followed in September by British-born William Welstead, whose pink spinel Lotus rings, emerald drops on chains, old cut stones and beads are sourced in Jaipur.

“It’s elegant to meet with clients and talk about the jewellery,” Guinness says. “In New York the big shoppers don’t have time – they get everything delivered.”

The up close and personal element of next month’s Tiffany & Co travelling exhibition of 25 fine jewellery pieces made by the architect Frank Gehry will be a glimpse of the first-ever Gehry building in England, a wooden and glass pavilion designed for the Serpentine Gallery. Gehry’s architecture resonates in his jewels (priced from pound(s)6,500); his clunky wooden drops, fluid chicken-wire earrings wrapped around uncut diamonds or “crinkly” silver cuffs.”

Van Cleef & Arpels is also getting more intimate, bringing its new L’Atlantide collection as well as vintage pieces worn by Maria Callas and Jacqueline Onassis to show alongside a group of Old Master paintings at the London shop Partridge Fine Art. It may be an antiques store, specialising in English and Continental furniture from 1720-1840, but this month they’ve showcased the most exciting jewellery on Bond Street, including (besides Van Cleef) the exceptional designs of the late jeweller Andrew Grima, Britain’s grandfather of contemporary jewellery,

And why has the 100-year-old Partridge’s suddenly discovered diamonds? “They are bangles all precious things that appeal to the same people,” says Mark Law, chairman of Partridge.

It’s a sentiment shared by New York-based Prince Dimitri of Yugoslavia, who this month also brought 30 one-of-a-kind pieces boasting important stones richly layered with cultural references to the antique dealer. Prices range from $80,000 to $250,000, for pieces such as a n African-inspired necklace and a Paisley brooch encrusted with rubies, garnets, emeralds and diamonds . “All beautiful things relate,” Prince Dimitri says – especially when they touch.

A tip-off from private investigators working for international fashion labels has led to the seizure of more than $500,000 worth of fake clothes and accessories in Sydney.

Brand names including Louis Vuitton, Chanel and Tiffany were pirated as part of the operation, police said.

The goods were found during a raid on a shop at Burwood in Sydney’s west on Tuesday.

“It is alleged officers entered the store and located a stockpile of pirated clothes, jewellery, handbags and other fashion accessories, illegally bearing such brand names as Louis Vuitton, Chanel and Tiffany,” police said.

A married couple aged in their 50s were arrested at the shop and are being questioned while detectives continue investigations into the two company directors.

“Police have alerted the security managers of Chanel in London and Tiffany in Hong Kong, who were surprised by the enormity of the find and expressed their satisfaction with the seizure,” police said.

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Brandi Beutler’s back-to-school shopping goal is simple: Find cute clothes at bargain prices.

On a recent trip to the Lewiston Center Mall, she and three other 16-year-olds said the best school clothes are a perfect combination of style, comfort and affordability, and fashion is subjective.

“I go for whatever is a reasonable price and cute,” said Brandi, daughter of Michele and Bill Beutler.

Tiffany Ho, daughter of Linda Do and James Ho of Clarkston, said she prefers the “urban look” of jeans tucked into boots, long cardigans and long necklaces.

“If I feel like making a bold move, I wear something different than what everyone else is wearing,” Tiffany said. “One time I wore leather leggings to school with pumps. I got many different responses. My English teacher liked it a lot. I think I wore them twice.”

Kids who just want to blend into the crowd can play it safe with jeans and T-shirts, but it takes a bit more confidence to break out of the box. “As long as you don’t care what other people think, you can pull it off,” Brandi said. “I have pink and purple pants. Some people looked at me kind of funny when I wore them. I like them, so it doesn’t really matter.”

Skye Leighton, son of Michelle and Jesse Leighton of Clarkston, said he enjoys dressing nice for school on game days. “I like ties that are interesting but professional, not crazy like a clown tie. I like a sweater over a shirt and tie. Your belt, socks and shoes have to match.”

Accessories are important, said Lexee Hoffman, daughter of Bev and Mel Hoffman of Lewiston.

“Bracelets are big,” said the high school junior, who was wearing five on one of her wrists.

“And prescription glasses are in style,” Skye added.

As for shoes, flip flops are still popular, along with sandals and sport-inspired footwear, such as Converse, the teens said.

“I bought five colors of the same style of sandals,” Brandi said. “They were like $6, so it was a good deal.”

Most schools have dress codes, but the rules are rarely enforced, the kids said. For example, shorts are supposed to be fingertip length and tank tops should have thick straps.

If it’s hot on the first day of school, the girls plan to wear shorts, tank tops and sandals. “I like tank tops that have stuff on the back, like a design,” said Lexee, finding an example on a rack.

Skye said he’ll probably opt for a T-shirt and shorts on the first day, which is pretty standard for the male student population. “Guys go with their favorite teams a lot. I personally like Boise State. In winter, it’s sweatshirts. The rest of the time it’s T-shirts.”

Wearing a jean jacket with jeans is a fashion don’t, the teens advised. Vests are OK, unless they’re too puffy. “No marshmallows,” said Lexee. “And jean shorts for guys our age is a fashion no.”

“These are a cheesy no,” added Tiffany, pointing to a T-shirt that says, “Hello. My name is awesome.”

Skye, Tiffany and Brandi buy most of their clothes. Lexee said her parents foot the bill for hers. She estimates her back-to-school wardrobe will cap out at about $400.

“It varies,” Brandi said. “Sometimes I spend $100 and other times I’ve spent up to $500.”

“People get jobs, save money and buy their own clothes over the course of the summer. It’s not like a one-day event anymore,” Skye said.

Finding a good deal is imperative if you’re on a limited budget, they said, and boys have a built-in advantage.

“Guys’ clothes are way cheaper than girls’ clothes,” Skye said.

That’s because clothing merchandisers know young women get hooked on certain must-have items and set the prices accordingly, Brandi said. “Girls set their hearts on clothes and if they can’t get it, they’re devastated. At least, most girls are like that.”

Clothes from Hollister, Abercombie & Fitch and American Eagle usually fall into that category, said the girls.

Brandi and Tiffany said their favorite store is Forever 21, and the closest one is in Spokane. Lexee likes the Buckle, which is in Moscow, and Skye doesn’t have a favorite.

“I like to express myself in a lot of different ways,” said Tiffany, who wants to work in the fashion industry someday.

“For the most part, I just want to dress decent,” Brandi said.

For a few jewelry stores, 2001 may have been golden. But for most it was flawed.

Nationally, last year was the worst year for jewelry retailers in the past three years, according to statistics from Jewelers of America, an industry trade organization with 10,000 members, including 300 in Georgia.

Sales for 2001 reached $40 billion nationally, said Fred Michmershuizen, director of marketing for Jewelers of America. That’s down from 2000, when the industry hit $41.6 billion nationally. And that’s down from the highs in 1999 when national jewelers sold almost $43 billion in merchandise, Michmershuizen said.

The poor holiday season was one of the reasons Service Merchandise Co. (OTC BB: SVCDQ) – the ninth-largest jewelry seller in the country, according to the National Jeweler Magazine top 40 – plans to liquidate all of its stores and close permanently.

Zale Corp. (NYSE: ZLC) reported same-store sales were up almost 2 percent from 2000 after it sorted out inventory and merchandise problems, while Tiffany & Co. (NYSE: TIF) reported a 2 percent decline in same-store sales – much less of a decline than some analysts had predicted.

Closer to home, Savannah-based Friedman’s Inc. (Nasdaq: FRDM) reported 2001 net sales of $411 million with a 2 percent increase in same-store sales, according to the company’s annual report filed with the Securities and Exchange Commission on Dec. 28. That’s up from 2000, when Friedman’s reported sales of $376.3 million. The company operates more than 640 stores nationwide (including more than 25 in the Atlanta area) and is No. 16 in National Jeweler Magazine’s top 40 jewelry retailers in 2001.

But Friedman’s increased sales came at a cost. Its net income fell to $12.2 million in 2001, down from $19.7 million in 2000.

Friedman’s profits were tarnished by a large increase in selling, general and administrative expenses – especially an increase in bad debt, which was 19 percent of 2001 revenues as opposed to 14.5 percent in 2000, according to the annual report. More than half the company’s sales are done through credit, Friedman’s reported.

Friedman’s officials could not be reached for comment by press time. Friedman’s is scheduled to announce its first-quarter earnings Jan. 15.

The company has opened an average of 64 stores a year since 1992, but has scaled back growth plans for 2002. Friedman’s plans to open between 10 and 30 new stores this year, compared with the 55 new stores it opened in 2001.

Friedman’s stock price has fluctuated widely during the past year, with a 52-week low of around $4.75 per share and a 52-week high of more than $12 a share. The company’s stock was trading between $10.50 and $11 per share on Jan. 9.

Reeds leaving mall

For other local players, the market hasn’t been as good as it has been for Friedman’s.

“On a scale of one to 10, I’d say we did a six,” said Twana Grayer, an assistant manager for Reeds Jewelers Inc. (Amex: RJI) at Cumberland Mall. “We didn’t meet our budget but we did pretty close to it.”

Grayer didn’t disclose sales volumes, but said the problem wasn’t the number of people coming into the store in 2001 – particularly during the critical Christmas shopping season. It was that consumers weren’t willing to spend as much on jewelry.

Reeds plans to close its Mall of Georgia store by Jan. 31, said Alan Zimmer, president and CEO of N.C.-based Reeds.

“We have earmarked a number of stores throughout the company that aren’t performing well,” Zimmer said.

Reeds operates the two stores in Atlanta, and the company has yet to decide on the fate of the Cumberland Mall store, he said.

Jewelers of America’s Michmershuizen said 2001 showed just how closely tied jewelers are to the economy, especially in a year when consumer spending was knocked out by a recession and terrorism that froze consumers’ confidence, and thus their wallets.

Tom Ross felt that impact. Ross, owner of Ross Jewelry Co. at the Piedmont Center office complex in Buckhead, said his specialty store practically could have closed right after Sept. 11.

“September and October, we could’ve closed and taken a vacation,” Ross said. “People’s minds were elsewhere.”

Ross’ store mainly caters to an affluent clientele. But even that wasn’t enough to buffer against the overall consumer confidence shakeup.

“Even the affluent customer has had their portfolio battered just like everybody else,” he said. “We were saved, quite frankly, in December.”

Ross said his store, in the end, showed a sales increase of about 10 percent in 2001 over the previous year, the store’s first year of operation. He declined to give exact revenues.

The biggest boon came during the Christmas shopping season – one of the three most critical selling times for jewelers. Valentine’s Day and Mother’s Day also are critical, holidays which can make up 70 percent to 80 percent of a store’s annual revenue, according to statistics compiled by National Jeweler Magazine.

And Ross said he kept his margins from shrinking too much, a critical factor in this environment.

Jim Pavia, editor in chief of National Jeweler Magazine, said thats the strength of small independent jewelers as opposed to the big jewelry store chains and mass merchandise sellers – the smaller, more nimble retailers can “turn on a dime” and adjust to the economy.

“What’s happened over the last two years has made them more savvy on how to do business better,” Pavia said. “Hopefully, if they do work their business smarter, they’ll run their business tighter.”

Pavia said jewelers felt the chilly consumer reception as early as 2000 in some areas of the country. And a recent survey by the magazine indicated most consumers – 30 percent of those interviewed – would spend $50 or less on jewelry during the 2001 holiday season. At the same time, 12 percent of consumers interviewed planned to spend more than $300 on jewelry, Pavia said.

“The consumer was a little bit leery on how much they were going to spend,” he said.

A longtime Buckhead jeweler, Skippy Musket & Co., also plans to close for good, said owner Skippy Musket. The store, in Phipps Plaza, will shutter on Jan. 31, Musket said. But she said that has nothing to do with jewelry sales. If anything, her store ended on a “very up note.”

“I’m retiring,” Musket said. “I think fine pieces are always in demand [regardless of the economy].”

Diamonds in the rough

Jewelers of America is predicting an increase in jewelry spending in 2002. The organization estimates that jewelry sales nationally will be about $42.3 billion.

Pavia said the rebound in sales will likely shadow the economic rebound, as well as an increase in incentives offered by retailers, who are getting better deals from jewelry suppliers.

“I think the suppliers have to be receptive, too. If they want to move their product, they’re going to have to offer incentives to the retailers,” he said.

Ross agreed.

“You have to use every skill in your tool bag. Relationships are very critical, [especially] relationships with suppliers,” Ross said.