CrimeApr 24, 2024
Jewelry Crime Declines Significantly, But Dollar Losses Remain High A double-digit drop in the number of in-store crimes was offset by a jump in off-premises attacks, JSA’s 2023 crime report shows.
FinancialsJan 17, 2018
Tiffany Holiday Comps up 6% in the Americas
The region saw “substantial improvement,” with total sales increasing 7 percent.
Tiffany & Co. reported a 6 and 7 percent increase in same-store sales and total sales, respectively, in the Americas in November and December. Seen here is the company’s store on Wall Street in New York.
New York--On the heels of a strong third quarter, Tiffany & Co. reported Wednesday that same-store sales rose 6 percent in the Americas during the holiday season.
Total sales in the region for the two-month period ended Dec. 31 increased 7 percent year-over-year to $516 million.
On a constant-exchange-rate basis, there was a 6 percent increase in both comparable store sales and total sales.
Tiffany reported varying degrees of growth across most of the United States, Canada and Latin America, with higher spending attributed primarily to local customers, not tourists.
The results follow the company’s report that comps were up in the Americas in Q3, though that single quarter of growth came after years of sliding sales for the jeweler.
On a global basis, Tiffany’s comps were up 5 percent and net sales increased 8 percent to $1.05 billion. On a constant exchange-rate basis, worldwide same-store sales rose 3 percent and net sales increased 6 percent.
The company said the strongest growth came from the high, fine and solitaire category as well as fashion jewelry.
It also said customers were drawn to its watch collections, as well as its new Home and Accessories line, which was unveiled alongside its New York flagship’s fourth-floor renovation and the opening of the Blue Box Café. The café reportedly was generating so much excitement in the weeks following its opening that the wait was hours long.
Tiffany saw only “fractional growth” in sales of engagement jewelry and wedding bands.
In addition to the “substantial improvement” in the Americas, the company’s holiday performance was aided by the Asia-Pacific region, where total sales increased 16 percent to $232 million due to a 7 percent increase in comps, new store openings and an increase in wholesale sales, Tiffany said.
In Europe, same-store sales were up 2 percent and total sales rose 14 percent to $136 million, due also to the opening of new stores. The company saw “varying performance” across the region, with overall sales growth attributed to higher spending by local customers, not tourists.
In Japan, comps were flat and total sales rose by 1 percent to $145 million. Tiffany said the 2016 holiday period saw “exceptionally strong growth” in spending attributed to local customers, making it a difficult comparison.
New CEO Alessandro Bogliolo said though the retailer is “encouraged” by its holiday sales results, a sustainable turnaround will be achieved by “continuing to evolve
Editors' Picks
Sponsored by
our product offerings and customer experience and also by stepping up certain strategic spending in our business, all of which is reflected in our preliminary 2018 plans and earnings outlook.”
Management’s outlook for fiscal 2017, which will end Jan. 31, now calls for a global net sales increase of 4 percent compared with the prior year. (In its third quarter results, the company only said it predicted they would be up over the prior year by a low-single-digit percentage.)
Its outlook for fiscal 2018 calls for a mid-single-digit percentage increase in worldwide sales, and the company said it anticipates more spending across technology, marketing communications, visual merchandising, digital, and store presentation.
Management’s outlook for fiscal 2017, which will end Jan. 31, now calls for a global net sales increase of 4 percent compared with the prior year. (In its third quarter results, the company only said it predicted they would be up over the prior year by a low-single-digit percentage.)
Its outlook for fiscal 2018 calls for a mid-single-digit percentage increase in worldwide sales, and the company said it anticipates more spending across technology, marketing communications, visual merchandising, digital, and store presentation.
More on Financials
The Latest
CollectionsApr 24, 2024
Pippa Small Announces ‘Venus’ CollectionInspired by the Roman goddess of love, the designer looked to the sea for her new collection.
Events & AwardsApr 24, 2024
JCK Industry Fund Announces 2024 Grant RecipientsThe selected nine organizations have outlined their plans for the funds.
Brought to you by
The Blueprint for Success in Scalable, Personalized Jewelry RetailWith Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
SourcingApr 24, 2024
Rio Tinto’s Q1 Production Drops Amid Pause to Honor Lost Colleagues The mining company’s Diavik Diamond Mine lost four employees in a plane crash in January.
Weekly QuizApr 19, 2024
This Week’s QuizTest your jewelry news knowledge by answering these seven questions.
WatchesApr 24, 2024
These Are Rolex’s New Watches for 2024 The crown introduced a dozen timepieces in Geneva, including a heavy metal version of its deep-sea divers’ watch.
ColumnistsApr 23, 2024
The Smart Lab: Advanced Email Marketing Strategies for Mother’s DayEmmanuel Raheb recommends digging into demographic data, customizing your store’s communications, and retargeting ahead of May 12.
Brought to you by
How Jewelers of America Represents Your BusinessFor over 30 years, JA has advocated for the industry, fought against harmful legislation and backed measures that help jewelry businesses.
IndependentsApr 23, 2024
Hannoush Jewelers Opens New Store in New York Located in the town of Queensbury, it features a dedicated bridal section and a Gabriel & Co. store-in-store.
SourcingApr 23, 2024
Lucapa Sells 3 Diamonds for $10.5M in First Lulo Tender of 2024A 203-carat diamond from the alluvial mine in Angola achieved the highest price.
GradingApr 23, 2024
GIA Has a New Book About William RuserRuser was known for his figural jewelry with freshwater pearls and for his celebrity clientele.
CollectionsApr 22, 2024
Jacquie Aiche’s New Campaign Stars Adam Levine, Behati PrinslooThe “Rebel Heart” campaign embodies rebellion, romance, and sensuality, the brand said.
EditorsApr 22, 2024
The 22 Best Quotes from AGS Conclave 2024 Editor-in-Chief Michelle Graff shares the standout moments from the education sessions she attended in Austin last week.
SourcingApr 22, 2024
Virtual Diamond Boutique Rebrands as ‘VDB’The overhaul includes a new logo and enhanced digital marketplace.
MajorsApr 22, 2024
Signet Raises Nearly $9M for St. Jude Children’s Research HospitalThe money will go toward supporting ongoing research and aftercare programs for childhood cancer survivors.
CollectionsApr 19, 2024
Piece of the Week: Retrouvaí’s Treasure NecklaceA new addition to the “Heirloom” collection, this one-of-a-kind piece features 32 custom-cut gemstones.
CrimeApr 19, 2024
Grand Jury to Hear Case Against Jeweler Charged in Fatal Shove Following IJO ShowLast month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
MajorsApr 19, 2024
Unique Designs Acquires China PearlThe move will allow the manufacturing company to offer a more “diverse and comprehensive” range of products.
GradingApr 19, 2024
AGS Ideal Report Now Available in Printed FormFrom now through mid-May, GIA will be offering the reports at a 50 percent discount.
SourcingApr 18, 2024
Diamond Trade Remains Cautious Amid Economic UncertaintyDe Beers’ rough diamond sales were down 18 percent year-over-year in its latest round of sales.
Supplier BulletinApr 18, 2024
Discover History’s Hidden Gems at the Las Vegas Antique Jewelry & Watch ShowSponsored by the Las Vegas Antique Jewelry & Watch Show
WatchesApr 18, 2024
Watch E-tailer Collectability Hires Kelly YochThe Patek Philippe expert will serve as personal curator for the brand-focused company.
WatchesApr 18, 2024
TAG Heuer Opens Its Largest Standalone Boutique at SeaThe 553-square-foot shop is aboard the Carnival Jubilee cruise ship.
Policies & IssuesApr 17, 2024
NDC Prevails in U.K. Case Over Lab-Grown Diamond AdvertisingNDC filed a complaint against Skydiamond for use of phrases like “diamonds made entirely from the sky.”
Events & AwardsApr 17, 2024
And the 2024 Winner of the Shipley Award Is … John Carter received the AGS’s highest honor Tuesday afternoon at Conclave in Austin, Texas.
MajorsApr 17, 2024
Stuller’s B&D Opens New HeadquartersB&D Sales and Service held a ribbon-cutting event for its new location in Cranston, Rhode Island.
CollectionsApr 16, 2024
Akaila Reid Launches ‘Eat Cake’ CollectionIt’s ultra-feminine and filled with gold, pearls, and soft pastels.
