IndependentsJun 25, 2025
Marissa Collections Opens in Nantucket as Legal Fight ContinuesThe Vault’s Katherine Jetter is accusing the retailer of using info she shared for a potential partnership to move into Nantucket.
FinancialsAug 27, 2015
Second quarter sales flat for Tiffany
The company noted that comps and total sales were about equal to the prior year in the Americas due to the negative effect of the strength of the U.S. dollar and lower foreign tourist spending, leading to a tempered full-year earnings forecast.
Tiffany&Co. noted in its second quarter conference call held Thursday that the new interpretations of its Bow, Victoria and Infinity collections, as well as Return to Tiffany line, will offer customers freshness that will “improve overall s
New York--Though it saw healthy growth in Canada and Latin America, Tiffany & Co. reported Thursday that both same-store sales and net sales on a constant exchange basis were flat year-over-year in the Americas in the second quarter ended July 31.
Total sales in the region were down 2 percent to $475 million during the three-month-period, as higher sales to U.S. customers contrasted with lower foreign tourist spending in the country, which the retailer said it attributes to the strong U.S. dollar.
Globally, same-store sales increased 7 percent during the second quarter, due to growth in Japan, Europe and Asia-Pacific, as well as increased sales of fashion gold jewelry and statement jewelry. Total sales were $991 million in the quarter, as compared with $993 million in 2014.
For the first half of the year, total sales in the Americas rose 1 percent to $918 million and comp store sales were unchanged. Global comps were up 3 percent year-over-year on a constant-exchange-rate basis for the six-month-period, while total sales rose 4 percent to approximately $2 billion.
Tiffany & Co. CEO Frederic Cumenal said while adverse effects from the strong U.S. dollar have been more significant than initially expected, the company met its overall expectations in the first half of the year.
“We entered this year expecting translation and tourism-related pressures on sales and earnings from the exceptionally strong U.S. dollar, as well as challenging economic conditions in certain markets,” he said. “We are pleased with responses to new designs, including our Tiffany T jewelry and CT60 watch collections, and are excited about upcoming additions being made to bolster sales across jewelry categories and price points.”
RELATED CONTENT: Tiffany & Co. all tied up for fall
Cumenal added that the brand expanded its global presence throughout the second quarter by opening six stores across the Americas, Europe and the Asia-Pacific region, in Geneva, Switzerland; Ottawa, Canada; Bangkok, Thailand; Macau; and two in China, in Shanghai and Hangzhou. Tiffany also announced this month it would be opening its first retail store in New Zealand, a location in Auckland.
In Europe, both total sales and same-store sales in the second quarter rose 19 percent, as growth in the United Kingdom and across the continent largely benefitted from higher spending by foreign tourists and, to a lesser extent, more spending by local customers. For the first six months of the year,
total sales were up 20 percent and comps increased 18 percent.
Same-store sales were up 6 percent in the Asia-Pacific region while total sales rose 9 percent. For the first half of the year, total sales and comps increased 6 percent and 4 percent, respectively. In both periods, double-digit sales growth in China and Australia was combined with mixed performance in other markets.
Benefitting from higher sales to foreign tourists were sales in Japan, which rose 27 percent in total sales and 21 percent in same-store sales. First half total sales in this region were unchanged, while comps dropped 6 percent.
“In light of the difficult environment exacerbated by the strong dollar and ongoing external uncertainties, we are tempering our full-year earnings forecast,” Cumenal said. “However, we remained focused on pursuing longer-term growth opportunities that strengthen Tiffany’s position among the world’s important luxury brands.”
As of July 31, the company operates 304 stores, 124 of which are in the Americas, compared with 122 a year ago.
More on Financials
The Latest
CrimeJun 25, 2025
Customs Nabs Another Big Shipment of Fake Cartier, Van Cleef JewelryAgents seized 2,193 pieces, a mix of counterfeit Cartier “Love” and “Juste Un Clou” bracelets, and Van Cleef & Arpels’ “Alhambra” design.
CollectionsJun 25, 2025
Splash into Karina Choudhrie’s Collection of Underwater Circus PerformersThe designer brought her children’s book, “The Big Splash Circus,” to life through a collection of playful fine jewelry characters.
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.
Events & AwardsJun 25, 2025
JA Announces Impact Initiative Fund RecipientsThe trade association has chosen the recipients of the funding initiative it formed to foster the growth and sustainability of the industry.
Weekly QuizJun 20, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SourcingJun 25, 2025
2025 AGTA Spectrum Awards Open for EntriesThe organization has also announced this year’s slate of judges.
EditorsJun 24, 2025
The Best New Jewelry from Couture 2025, Part 2Associate Editor Natalie Francisco shares 20 additional pieces that stood out to her at the Couture show.
Brought to you by
Jewelers of America is Headed to Las Vegas for JCK 2025The countdown is on for the JCK Las Vegas Show and JA is pulling out all the stops.
IndependentsJun 24, 2025
Colorado Bench Jeweler Celebrates 50 Years With Local RetailerLori Tucker started at Williams Jewelers when she was 18 years old.
WatchesJun 24, 2025
Citizen’s New ‘Fantastic Four’ Watch Is Literally Super The “Marvel | Citizen Zenshin” watch is crafted in Super Titanium and has subtle nods to all four “Fantastic Four” superheroes on the dial.
MajorsJun 24, 2025
Tacori, QVC to Launch Exclusive Lab-Grown Diamond Jewelry CollectionThe “XO Tacori” collection was designed to blend luxury and accessible pricing.
GradingJun 23, 2025
GIA Names New President and CEO Pritesh Patel, the lab’s chief operating officer, will take over as president and CEO of GIA.
Recorded WebinarsJun 23, 2025
Watch: Top Trends at Couture, JCK Las Vegas 2025National Jeweler and Jewelers of America discuss the standout jewelry trends and biggest news to emerge from the shows this year.
SourcingJun 23, 2025
Diamond Producers, Organizations to Kick in Money to Promote Natural DiamondsSignatories to the “Luanda Accord” committed to allocating 1 percent of annual diamond revenue to the Natural Diamond Council.
Events & AwardsJun 23, 2025
Jose Hess Design Awards Celebrate 6 Jewelry DesignersThe winning designs captured the “Radiance” theme.
Events & AwardsJun 23, 2025
Gem Awards Now Accepting Nominations for 2026Nominations in the categories of Jewelry Design, Media Excellence, and Retail Innovation will be accepted through July 30.
TrendsJun 20, 2025
Dua Lipa Stays On-Trend With Chunky Engagement RingThe singer’s ring ticks off many bridal trends, with a thick band, half-bezel setting, and solitaire diamond.
TrendsJun 20, 2025
Piece of the Week: Yvonne Léon’s ‘Python Gold’ BraceletThe bracelet references vintage high jewelry and snake symbolism as a playful piece where a python’s head becomes a working belt buckle.
CrimeJun 18, 2025
7 Men Indicted in $100M Brinks Jewelry HeistThe heist happened in Lebec, California, in 2022 when a Brinks truck was transporting goods from one show in California to another.
AuctionsJun 18, 2025
Historic ‘Marie-Thérèse Pink’ Diamond Fetches $14M at Christie’sThe 10-carat fancy purple-pink diamond with potential links to Marie Antoinette headlined the white-glove jewelry auction this week.
EditorsJun 18, 2025
Q&A: Caryl Capeci Dives Into Cruise Jewelry ShoppingThe Starboard Cruises SVP discusses who is shopping for jewelry on ships, how much they’re spending, and why brands should get on board.
AuctionsJun 18, 2025
16th-Century ‘Gresham Grasshopper’ Ring Sells for $56KThe historic signet ring exceeded its estimate at Noonans Mayfair’s jewelry auction this week.
CollectionsJun 18, 2025
Kirk Kara Celebrates 135 Years With New JewelsTo mark the milestone, the brand is introducing new non-bridal fine jewelry designs for the first time in two decades.
SourcingJun 18, 2025
Gemfields Sells 36-Carat Rough RubyThe gemstone is the third most valuable ruby to come out of the Montepuez mine, Gemfields said.
TechnologyJun 18, 2025
Alex Brown Named President of Smithee GroupFounder and longtime CEO Ben Smithee will stay with the agency, transitioning into the role of founding partner and strategic advisor.
EditorsJun 17, 2025
The Best New Jewelry from Couture 2025, Part 1Associate Editor Natalie Francisco shares 20 of her favorite pieces from the jewelry collections that debuted at Couture.
ColumnistsJun 17, 2025
Peter Smith: Is Your Comp Plan a Hiring Hindrance?If you want to attract good salespeople and generate a stream of “sleeping money” for your jewelry store, then you are going to have to pay.
