High street jewellery chains face tough times. Credit - Getty.

Growth seems to be hard to come by in almost any industry at the moment, especially as UK business leaders brace for Chancellor Rachel Reeves to deliver her expected tax hikes later this month.

But the latest set of financial results for two of the country’s largest jewellery chains has shone a spotlight on the tight margins that these high street staples are currently dealing with.

Rising raw material costs, changing consumer behaviour because of the cost of living as well as increasing taxes and wages are just some of the battles being fought by established names.

Below, City AM details how the largest players in the industry have been performing recently and why.

Losses almost triple at H Samuel and Ernest Jones owner

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