vvFebruary28,2017WATCHES&JEWELRYEXCERPTTHEFULLREPORTISAVAILABLETOL2MEMBERSONLY.INQUIREABOUTMEMBERSHIP.WATCHES&JEWELRY22FEBRUARY28,2017EXCERPTWATCHES&JEWELRYINTRODUCTIONRANKINGSITE&E-COMMERCEDIGITALMARKETINGSOCIALMEDIAMOBILEEXCERPTWatchtheVideoFollowingtwoconsecutiveyearsofdecliningsalesandprofitability,theWatches&Jewelryindustryfindsitselfatacriticaljuncture.WhileareturntogrowthinQ42016hasengenderedoptimismabout2017,1managementchangesatseveraliconicbrandsrevealthatchallengesremain.2,3Theperformancedivergencebetweenonlineandofflinechannelsisgrowing,andcannolongerbeignored.Holidaysalesatbrick-and-mortarstoresweredisappointing,butdigitalsaleswererobust—onlinejewelrysaleswereupdoubledigits4andAmazonsoldawatchevery1.5seconds.5Asbrandsbegintorestructuretheirorganizationsandincreaseinvestmenti