AN iconic jewelry store is closing down after more than 100 years in business in Arkansas.
Newton’s Jewelers is a beloved institution in Fort Smith but this spring, shoppers will be saying goodbye to the family-run jewelry store for good.
The store did not disclose the reasons for its closure, but a post on Facebook shared the news with its loyal customers.
“The Newton Family is retiring!” the Facebook page reads. “After 109 years in business, we've pulled merchandise from our vaults and have an incredible selection of jewelry and homeware to sell.”
The store said shoppers can expect to get discounts at up to 70 percent off.
“We’re opening the vaults and offering unique pieces even our loyal customers have never seen. I want everything sold quickly, so we are putting our best discounts out there,” owner Kelly Newton told KNWA.
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“This sale is going to blow folks away – it’s really going to be something to see!”
One diamond bracelet the retailer shared as its deal of the day is a whopping 50 percent off, bringing the $16,800 worth four-carat item down to just $8,885.
Meanwhile, an engagement ring set originally priced at $7,200 can be grabbed for as low as $2,490.
Shoppers rushed in to show their support for the soon-to-be-gone retailer.
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“You are a part of our family always,” one person said on the Facebook page. “We got our wedding rings at your store - 45 years ago this summer.”
Newton’s was founded in 1914 and served the Fort Smith Community for four generations.
At one time, the business had 16 locations, all spread across Arkansas, Missouri, Kansas, Iowa, and Texas.
The official closing date has not been set for Newtons, but shoppers should go early to take advantage of the liquidation sales.
A LARGER TREND
Across the country, hundreds of stores have closed as the retail environment shifts.
Both independent stores and retail giants alike are experiencing financial difficulties coming out of the pandemic.
The rise in online shopping, where large manufacturers can sell items straight to shoppers without any brick-and-mortar stores, has been a death sentence for many businesses.
Over the next three years, Macy’s intends to close a total of 125 locations.
That will mean nearly a fifth of their U.S. stores will be gone by the end of 2023.
At the beginning of 2020, the department store operated 777 Macy's and Bloomingdale's storefronts. The goal now is to get closer to 650 stores.
The store closures will impact at least 18 different states across the nation.
Even Walmart is not immune to the changing dynamics.
Four new closures were announced in Chicago for the company, leaving many shoppers with one less place to find affordable groceries.
"The simplest explanation is that collectively our Chicago stores have not been profitable since we opened the first one nearly 17 years ago," Walmart said in a statement.
But that’s just the tip of the iceberg as Walmart looks to get rid of more underperforming stores.
An Everett, Washington Walmart will shutter on April 21 alongside locations in South Bend, Indiana, Brooklyn Center, Minnesota, and Honolulu, Hawaii.
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A beloved local Italian restaurant in Arizona is also saying goodbye for good this spring.
Plus, see the full list of Target closures coming up.
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