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With the demise of Service Merchandise, retail analysts and experts see a future for Wal-Mart expanding its jewelry departments.
Jewelry at Wal-Mart Corp. (NYSE: WMT) historically represents only two percent of sales. But for the Bentonville, Ark.-based retailer, that's still nearly $2 billion annually.
That figure isn't too bad considering Brentwood-based jewelry retailer Service Merchandise's revenue peaked at $4 billion shortly before entering bankruptcy protection a few years ago.
"Certainly over the last several years we have put more diamond jewelry out, and probably more fine jewelry because that is what our customers are telling us they want," says Wal-Mart spokesman Rob Phillips. "Jewelry sales are growing,...