MajorsAug 01, 2025
Jewelers Mutual Names Mike Alexander as President The insurance company’s previous president and CEO, Scott Murphy, has split his role and will continue as CEO.
FinancialsMar 17, 2017
Tiffany & Co. Q4 Comps Down 2% in Americas
Total sales in the region also were down 3 percent as spending in the U.S. remains soft.
Tiffany & Co. said that comps in the Americas were down in the fourth quarter due to a continued softness in spending by U.S. customers.
New York--Tiffany and Co. reported Friday that comps and sales were both down in the Americas in its fiscal fourth quarter as spending in the U.S. remained soft.
In the Americas region, comps were down 2 percent and total sales were down 3 percent to $587 million in the fourth quarter ended Jan. 31. For the full year, comps were down 6 percent while net sales declined 5 percent to $1.8 billion in the full year.
The company said it saw softness across the U.S. last year and attributed the decline to lower spending by U.S. customers and foreign tourists.
Tiffany & Co. also continued to report on the impact of post-election activities to traffic to its flagship store on Fifth Avenue in New York, reporting that sales were down 7 percent in the fourth quarter there. This is an improvement on the 14 percent decrease for the location in the November-December period alone, though management attributed this improvement to some large transactions at the store in January.
Meanwhile, sales at the flagship were down 11 percent in the full year.
Globally, comps for the company were flat in the fourth quarter while net sales increased 1 percent to $1.2 billion. For the full-year, worldwide same-store sales were down 5 percent and net sales declined 3 percent to $4 billion.
In its earnings conference call Friday morning, Mike Kowalski, who took the position as interim CEO last month after Frederic Cumenal stepped down from the position, called the jeweler’s sales results “disappointing.”
To help it get back to growth and positive results, the company said it intends to accelerate the pace of new product development and innovation going forward, with which they believe newly appointed Chief Artistic Officer Reed Krakoff will be able to help.
Lately, it has been seeing success with its fashion jewelry category, which is attributed in part to higher gold jewelry sales and the success of the T collection.
Tiffany also noted growth in its silver jewelry category, with sales “approaching stabilization” after years of decline, executives reported on the call, as well as an increased performance in the under-$500 category, on which Tiffany will continue to focus in the future.
The softest categories were high, fine and solitaire jewelry--though the company reports it is doing well with the Victoria platinum and diamond collection--as spending remains light at the high end of the category.
In
Europe, comps were down 9 percent in the quarter and 14 percent in the full year, while sales were down 7 percent to $146 million in the quarter and down 10 percent to $458 million during the year.
In Asia-Pacific, meanwhile, comps were down 2 percent in the three-month period and 9 percent in the 12-month period, while total sales of $284 million in the fourth quarter were 9 percent above the prior-year period and total sales of $1 billion in the full year were about flat.
In Japan, same-store sales increased 19 percent in the quarter and 16 percent in the full year, while total sales in the fourth period were up 15 percent to $185 million and net sales in the full year rose 12 percent to $604 million.
Tiffany opened 11 company-operated stores during the full year and closed five locations, which, when combined with the relocation of five stores, resulted in a net increase in gross retail square footage of approximately 3 percent for the retailer.
As of Jan. 31, Tiffany & Co. operated 313 stores: 125 in the Americas, 85 in Asia-Pacific, 55 in Japan, 43 in Europe and five in the UAE. This is compared with 307 stores a year ago: 124 in the Americas, 81 in Asia-Pacific, 56 in Japan, 41 in Europe and five in the UAE.
In Asia-Pacific, meanwhile, comps were down 2 percent in the three-month period and 9 percent in the 12-month period, while total sales of $284 million in the fourth quarter were 9 percent above the prior-year period and total sales of $1 billion in the full year were about flat.
In Japan, same-store sales increased 19 percent in the quarter and 16 percent in the full year, while total sales in the fourth period were up 15 percent to $185 million and net sales in the full year rose 12 percent to $604 million.
Tiffany opened 11 company-operated stores during the full year and closed five locations, which, when combined with the relocation of five stores, resulted in a net increase in gross retail square footage of approximately 3 percent for the retailer.
As of Jan. 31, Tiffany & Co. operated 313 stores: 125 in the Americas, 85 in Asia-Pacific, 55 in Japan, 43 in Europe and five in the UAE. This is compared with 307 stores a year ago: 124 in the Americas, 81 in Asia-Pacific, 56 in Japan, 41 in Europe and five in the UAE.
More on Financials
The Latest
SourcingAug 01, 2025
Gemfields’ Auction Revenue Drops 50% in H1The nearly six-month pause of operations at its Kagem emerald mine earlier this year impacted the miner’s first-half results.
MajorsAug 01, 2025
Helzberg President Julie Yoakum Moves Over to Signet JewelersThe addition of Yoakum, who will lead Kay and Peoples, was one of three executive appointments Signet announced Thursday.
Brought to you by
Taking the Moment Head On: How Rio Grande Champions the Present & Future of Fine JewelryAs a leading global jewelry supplier, Rio Grande is rapidly expanding and developing new solutions to meet the needs of jewelers worldwide.
CollectionsAug 01, 2025
Piece of the Week: Hernsdorf’s ‘Tears of Aphrodite’ NecklaceThe necklace uses spinel drops to immortalize the moment Aphrodite’s tears mixed with her lover Adonis’ blood after he was fatally wounded.
Weekly QuizJul 31, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SourcingJul 31, 2025
De Beers Records $189M First-Half Loss The diamond miner and marketer warned last week that it expected to be in the red after significantly cutting prices in Q2.
Events & AwardsJul 31, 2025
These Are the 2025 CASE Award WinnersJewelers of America’s 35th annual design contest recognized creativity, artistry, style, and excellence.
Brought to you by
Investing in the Next Generation of Bench JewelersThe Seymour & Evelyn Holtzman Bench Scholarship from Jewelers of America returns for a second year.
IndependentsJul 31, 2025
Matthew Tratner Takes Over as CBG President Tratner succeeds Andie Weinman, who will begin stepping back from the buying group’s day-to-day operations.
Policies & IssuesJul 30, 2025
Tariff on India Will Be 25%, Trump Says The president made the announcement via Truth Social Wednesday, adding that India also will face a penalty for its dealings with Russia.
WatchesJul 30, 2025
Peek Inside Zadok Jewelers’ New Rolex Showroom in AustinIts opening marks the completion of the retailer’s new 11,000-square-foot store in the Texas capital.
SurveysJul 30, 2025
Consumer Confidence Ticks Up in JulyRespondents shared concerns about tariffs and commentary on the “Big Beautiful Bill.”
SourcingJul 30, 2025
Rob Bates to Release Latest Book in His ‘Diamond District Mystery’ Series“Making a Killing in Diamonds” tells the story of Mimi Rosen, the disappearance of a scientist, and the murder of lab-grown diamond CEO.
EditorsJul 29, 2025
Out & About: Visiting Tacori’s Design Studio in LASenior Editor Lenore Fedow learned a lot when she took a behind-the-scenes factory tour with the jewelry brand earlier this year.
Events & AwardsJul 29, 2025
Melee The Show Welcomes 15 New DesignersThe first-time exhibitors, set to debut at the New York City show, share a devotion to craftsmanship, storytelling, and material integrity.
SourcingJul 29, 2025
Auctim to Offer 7.3M+ Carats of Rough EmeraldsThe online auction house’s September sale will feature rough Brazilian emeralds of various qualities.
MajorsJul 29, 2025
Alexis Padis Re-Elected AGS Board President She’ll lead an executive committee consisting of President-Elect Bryan Moeller, Mitchell Clark, Bill Farmer, and Larry Rickert.
Policies & IssuesJul 28, 2025
U.S.-EU Come to Agreement on Tariffs Announced Sunday, the deal will set the tax on goods imported into the United States from the European Union at 15 percent.
CollectionsJul 28, 2025
Nanis Brings a New Palette to ‘Ipanema’A new edition of the Italian brand’s “Ipanema” collection has debuted with gemstones that evoke Brazil’s breathtaking views.
MajorsJul 28, 2025
The 1916 Company Partners with ‘Shark Tank’ Star’s Watch Insurance PlatformThe retailer will refer its customers to WonderCare, founded by venture capitalist and watch collector Kevin O’Leary.
IndependentsJul 28, 2025
Sissy’s Log Cabin to Open Flagship in Arkansas The jeweler’s largest store yet is set to open in Little Rock next fall.
CollectionsJul 25, 2025
Piece of the Week: Jemma Wynne’s ‘Forme’ NecklaceAnne Hathaway was seen wearing the toggle necklace three times while filming scenes for “The Devil Wears Prada 2.”
Events & AwardsJul 25, 2025
Pre-Registration Open for September Hong Kong ShowJewellery & Gem World Hong Kong is scheduled for Sept. 15 to 21, and buyer pre-registration will be available until Sept. 7.
Events & AwardsJul 24, 2025
2 Retailers to Receive 2026 Gem Award for Lifetime AchievementMark and Candy Udell of London Jewelers will receive the honor at the 24th annual Gem Awards next March.
SourcingJul 24, 2025
De Beers Sees Diamond Production Sink 36% in Q2 While struggles continue at the mining and trading end of the pipeline, consumer demand for diamond jewelry is holding steady.
CollectionsJul 24, 2025
Francesca Villa Adds Dimension to Her Intaglio CharactersThe “Fantasia” jewelry collection turns the intaglio animals from her “Close Encounters” collection into 3D characters.
WatchesJul 24, 2025
Breitling Drops Super Bowl Watch Honoring the Philadelphia Eagles The special Classic Avi Chronograph 42 with an Eagles-green dial is limited to 59 pieces, a nod to the Super Bowl Philadelphia just won.
