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A diamond in the rough
Joe Corey takes our call and settles in to talk about the hundred-year-old business he now leads. Founded in Maine in the early 1900s, what is now known as Day’s Jewelers. They sold all goods and supplies, a vital part of New England at the turn of the century. Corey’s family became connected to the retail chain when his grandfather Robert got his first job working in the company’s flagship location on Congress Street in Portland. He spent years with Day’s, growing his skills until taking over as the manager of their Caribou store. In the mid-1950s, Robert Corey relocated his growing family to Madawaska in northern Maine. He eventually opened his fine jewelry store, which still stands today.
By the 1980s, Day’s aging owners had closed most of their stores and were preparing to retire. They sold their last remaining store in Westbrook, Maine, to Robert’s son and his wife—Joseph’s parents. Jeff and Kathy Corey were successful jewelers in their own right, having opened their store, Jeffery’s Fine Jewelers, in Waterville, Maine. In what would be an inspired marketing move, they decided not to rebrand the Day’s location when they took ownership of the store. Instead, they kept the Day’s name in Westbrook and adopted it in Waterville. They recognized that the Day’s brand was just as valuable as the brick-and-mortar shop, if not more so. “The name is magic,” Jeff would explain to Joe later. “You don’t want to let that die.”
The Coreys infused the business with fresh energy. They opened new locations every three to five years across Maine and New Hampshire, revitalizing the company’s vision while preserving its strong brand. Against this backdrop, Joe, his siblings, and his cousins were raised. Joe remembers working with his family as a kid. “There was a lot of glass cleaning over the holidays,” he chuckles.
Some of Joe’s siblings pursued other careers, but Joe returned to Day’s after earning a degree in business management. He started at the bottom and worked his way up, learning valuable lessons from the past three generations. He learned what it means to treat the customer “like a King,” as his grandfather would say. He learned to hire, train, and keep great employees. He learned how to open new Day’s locations as a business and a real part of the community. He became a manager, Vice President of Store Operations, and President in 2021.
Corey recognizes that Day’s must meet the demands, opportunities, and challenges of the 21st century while preserving the aspects of the company that made it so popular. It starts by staying focused on its core values. “Our company mission is in mind with every decision we make: to build a company that stands the test of time,” Corey explains. Day’s Jewelers has been doing just that for nearly 110 years. “Every decision we make is sustainable and promotes longevity. We invest in technology to help us provide the best customer experience. We’ve upgraded our infrastructure to help us operate efficiently. And, we’ve recently become an employee-owned company.”
Employees are clearly at the heart of Day’s Jewelers. Day’s employees can share in the company's success through the new employee stock ownership plan. They have access to the company’s finances and are encouraged to make decisions that benefit the company and its customers. “Telling people what to do doesn’t encourage critical thinking. We want people to think for themselves,” Corey explains. “We’ve got young, talented people who are excited about the company, who are doing a great job of leading the company.”
Once a Day’s Jewelers opens a store, they become part of the community. Because of this, Corey ensures that each Day’s reflects their commitment to social, ethical, and environmental responsibility in everything they do. Day’s is an independent jeweler certified by the Responsible Jewelry Council. This process requires recertification every three years and voluntary audits to improve the process, employee experience, and financial reporting. They’ve donated over $100k to Jewelers for Children and have hosted multiple Make-a-Wishes in their stores. For one day each September, every Day’s store gives back 5% of sales to their neighborhood through charitable partners.
This sense of social responsibility started generations ago and continues today.
“We have the means to help out,” says Corey. “A lot of businesses do. It’s not just nice to do. Our communities give to us, so we have a responsibility to serve our communities. It’s part of our DNA. And our people love to get involved.”
Corey's greatest pride is being the steward of a company with such a long legacy. When asked how he plans to keep Day’s Jewelers relevant for another hundred years, the answer is simple: to face risks head-on. When hiring was a challenge last year, Corey focused on employee training, benefits, and profit sharing. When the economy made it harder for customers to make special purchases like engagement rings, Day’s created an in-house credit program to extend credit to people who need it. When the pandemic made in-person shopping uncomfortable, Day’s reached out to their customers, encouraging online shopping and offering curbside pickup and other services such as watch battery replacement.
After nearly 110 years, Day’s Jewelers has seen it all. “The risks that we face change frequently,” says Corey. “We’ve done it before, and we can surely do it again.”
For more information about Day’s Jewelers, check out their BBB Business Profile. To learn more about BBB and read more stories like this, visit Behind the Business Stories with BBB in Eastern MA, ME, RI, & VT.
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