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.
FinancialsMar 22, 2019
Tiffany Q4 Sales Dragged Down by Weak Holiday Season
Global sales dipped 1 percent in the fourth quarter, a disappointing ending to an otherwise strong year.
Iconic jeweler Tiffany & Co.’s worldwide sales fell by 1 percent in the fourth quarter.
New York—Tiffany & Co.’s worldwide sales dipped by 1 percent in the fourth quarter, weighed down by a weak holiday season.
The retailer had attributed its disappointing holiday sales to a decrease in spending by Chinese tourists and softening demand in the Americas and Europe.
Fourth-quarter net sales totaled $1.32 billion, compared with $1.33 billion in the fourth quarter 2017.
Sales in the Americas, where the most Tiffany stores are located, were flat compared with a year ago at $618 million, which the company said was due to foreign tourists spending less. Same-stores sales were flat as well.
European sales were down 3 percent to $162 million, again linked to a decline in tourist spending. Same-store sales dipped by 5 percent.
Asia-Pacific sales, meanwhile, declined 1 percent to $316 million as sales slowed in mainland China, and same-store sales were down by 3 percent.
Japan was the exception, reporting a 3 percent increase in sales to $196 million, as both locals and foreign tourists spent more. Comps climbed 3 percent.
Sales from the “other” segment, which includes five Tiffany stores in the United Arab Emirates, were down 25 percent to $29 million due to a decline in wholesale sales of diamonds as well as a dip in same-store sales.
In terms of categories, jewelry collection sales, which includes lines like Tiffany T and Paper Flowers, rose by 3 percent in the fourth quarter. Engagement jewelry sales fell 3 percent, and sales of jewelry from designers Elsa Peretti, Paloma Picasso and Tiffany & Co. Schlumberger dropped 8 percent.
The fourth-quarter decline capped off what was otherwise a strong year for Tiffany.
Worldwide net sales for the full year climbed 7 percent higher to $4.4 billion with same-stores sales up 4 percent.
Total annual sales in the Americas rose by 5 percent, clocking in at $2 billion, while same-store sales for the region increased by 5 percent.
Looking to fiscal 2019, the company forecasts worldwide net sales to increase by a low-single-digit percentage.
Net sales are expected to decrease in the first half of the year due to a dip in tourism spending, a stark contrast to the nearly 7 percent increase in revenue analysts had forecasted.
Despite the lackluster results, CEO Alessandro Bogliolo said that he continues to “strongly believe that Tiffany has vast global growth opportunities, and we look forward to realizing our full potential in the future.”
As of Jan. 31, there were 321 Tiffany stores in operation, compared
Editors' Picks
Sponsored by
with 315 a year ago.
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.
