Save E-mail

Send this URL to a friend:

* - Denotes a required field.
Your Name*
Your Email Address*
Friend's Name*
Friend's Email Address*
Subject*
Message*

Print

New York--Tiffany & Co. has reported a 7 percent increase over 2010 in total worldwide net sales for November and December, the result of double-digit sales growth in Asia-Pacific and Japan and smaller increases in the Americas and Europe.

Worldwide net sales totaled $952 million for the two-month period ending Dec. 31.

Sales in the Americas region, comprised of the United States, Canada and Latin America, rose 4 percent to $503 million. Sales in Tiffany’s U.S. branch stores were up 3 percent and same-stone sales rose 2 percent, however sales at the New York flagship location dropped 1 percent. Internet and catalog sales in the Americas also dropped 4 percent.

“After achieving very strong and better-than-expected sales and earnings growth in the first three quarters of 2011, sales weakened markedly in the U.S. and Europe during the holiday season,” Michael Kowalski, chairman and CEO of Tiffany & Co., said.

Tiffany is now in the preliminary stages of financial planning for 2012 and will provide more detailed guidance in its March report of full year financial results, according to Kowalski.

As of Dec. 31, Tiffany operated 246 stores; 102 in the Americas, 57 in Asia-Pacific, 55 in Japan and 32 in Europe, up from 232 stores a year ago.