IndependentsJun 05, 2026
Pennsylvania Jewelry Store To Close After 79 YearsJim Springer, owner of Dunkelberger’s Fine Jewelry, is heading into retirement.
FinancialsNov 30, 2016
Tiffany Has Better Than Expected Quarter
But the jeweler’s overall outlook remains cautious and it acknowledged that post-election activity around Trump Tower is impacting foot traffic at its flagship store.
This file photo shows Tiffany & Co.’s flagship store on Fifth Avenue in Manhattan. The company said Tuesday that heightened security around Trump Tower has had some effect on foot traffic at the store. (Photo courtesy of Tiffany & Co.)
New York--Tiffany & Co. reported Tuesday that worldwide sales rose 1 percent year-over-year in the third quarter on the back of strong sales of gold “T” collection jewelry and stabilizing silver sales.
However, the retailer reported a 2 percent drop in comps, weakness in sales of higher-end jewelry and loss of foot traffic at its Fifth Avenue flagship store at an inopportune time of year.
Tiffany’s total sales reached $949.3 million in the third quarter ended Oct. 31, up from $938.2 million in the prior-year period.
Net earnings were up 5 percent.
In the Americas, total sales were down 2 percent in the quarter to $417 million, with a modest decline in the number of units sold offset by an increase in price per unit.
Same-store sales also declined 2 percent.
During the company’s earnings call Tuesday morning, Vice President of Investor Relations Mark Aaron said that U.S. consumers spent less because of macro, market and political uncertainties, while increased spending from tourists from Japan and other countries offset lower spending by Chinese tourists.
Regarding the jeweler’s Fifth Avenue flagship, which has been the subject of numerous post-election impact stories given its proximity to President-elect Donald Trump’s eponymous tower, he said: “What we’ve seen has been some adverse effect on traffic in our flagship store, as well as a continuation of sales softness relative to last year and to our other U.S. stores this year.”
Overall, Aaron called the retailer’s third quarter results “mixed,” with some bright spots in terms of geography and product categories but softness in other areas making it “premature to say that there has been a meaningful turn in the business.”
Editors' Picks
Sponsored by
As of Oct. 31, Tiffany had 313 stores worldwide, including 125 in the Americas, compared with 305 stores a year ago, including 125 in the Americas.
On Tuesday’s call, new Chief Financial Officer Mark Erceg, who started with the company in October, said Tiffany plans to have opened a total of 11 company-operated stores in the full fiscal year, while closing six and relocating six others, including its store in the mall in King of Prussia, Pa.
Overall, Tiffany’s square footage will increase by 3 percent on the year.
He said the company remains cautious in its near-term outlook given that global economic conditions remain volatile.
Erceg too noted “minor disruptions” in foot traffic at the company’s flagship store, which accounted for less than 10 percent of global sales in every quarter last year.
However, given the importance of the holiday selling season, he said Tiffany remains “understandably cautious” in analyzing how this situation might impact sales in the coming weeks.
Tiffany is maintaining its previous guidance of a low single digit drop in sales for the fiscal year.
More on Financials
The Latest
SurveysJun 05, 2026
Consumers to Cut Back on Spending Amid Rising Prices, Survey Shows When conducting its May consumer confidence survey, The Conference Board asked extra questions about consumers’ budgeting strategies.
CollectionsJun 05, 2026
Rebel Jewelry’s Charm Symbolizes Perseverance for Pride MonthThe “Tunnel” charm, our Piece of the Week, celebrates Pride Month with its design inspired by hope and the light at the end of the tunnel.
Brought to you by
All Eyes on Gold Prices. Alternatives to Look For. And What to BEWARE of in VegasAs gold prices rise, today’s retailers are looking for alternatives at prices that will appeal to wider audiences.
SourcingJun 05, 2026
State of Diamonds: The Way Forward for Natural DiamondsThe jewelry industry is reassessing its positioning as Gen Z reshapes the retail landscape and lab grown continues to gain market share.
Weekly QuizJun 05, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
AuctionsJun 04, 2026
Treasures from Maurice Tempelsman’s ‘Marvelous’ Life Head to AuctionUp for auction at Sotheby’s, the collection of Tempelsman’s personal effects includes a Cartier Tank watch Jackie O. gifted him.
CollectionsJun 04, 2026
Buddha Mama to Spend the Summer in AspenThe Miami-based fine jewelry brand will host its first summer residency in the Colorado mountain town from June 5 to Aug. 23.
Brought to you by
How Modern Training Is Becoming a Competitive Advantage for Jewelry RetailersWith the trade and customer trust in mind, GIA® developed NextGem™ – on-demand training designed specifically for retail.
MajorsJun 04, 2026
AGS Honors Late Peter Yantzer, Holds Time Capsule CeremonyThe organization also announced its international board of directors for the 2026-2027 term.
MajorsJun 04, 2026
Neiman Marcus’ Downtown Dallas Store to Close in SeptemberSaks Global confirmed the closure this week, spelling the end for a store that’s been part of downtown Dallas for more than 100 years.
ColumnistsJun 03, 2026
Peter Smith: When Top Talent Leaves and What It Says About YouSmith discusses how managers should handle a top performer's exit, warning that a poor response could have a lasting impact.
GradingJun 03, 2026
GIA’s Tracr Investment Is First Step Toward Industry-Owned PlatformThe Gemological Institute of America is now a 30 percent stakeholder in Tracr, the De Beers-backed blockchain for diamonds.
WatchesJun 03, 2026
The 1916 Company Taking Pre-Owned Rolexes on the Road, AgainThe retailer is bringing Rolex Certified Pre-Owned watches to five U.S. cities in 2026 for collectors to see, try on, and purchase.
IndependentsJun 03, 2026
Jessica Alba Is the New Face of Gabriel & Co.The actress and entrepreneur stars in the jeweler’s new campaign that celebrates life’s quiet moments.
TrendsJun 03, 2026
State of Design: Only the Innovative Will SurviveThe price of gold has risen, affecting the number of pieces designers make, the materials they use, and how they position themselves.
SourcingJun 02, 2026
Leader Appointed for Botswana’s Diamonds for Development Fund Dr. Akinwumi Adesina, a development economist, will head the fund created to help Botswana diversify its economy.
WatchesJun 02, 2026
Watch Industry Veteran James Marks Joins Sotheby’sSotheby’s has appointed the former Phillips executive as its global head of private sales and retail in its watches division.
AuctionsJun 02, 2026
Sotheby’s to Auction 10-Carat Blue Diamond, 1960s Harry Winston Necklace A private collection of five Paraíba tourmalines also will be up for sale at Sotheby’s High Jewelry auction in New York, scheduled for June 16.
IndependentsJun 02, 2026
State of Retail: 6 Things Retailers Should Know About Consumers TodayFrom Gen Z’s view of luxury to “doom spending,” these are the six consumer trends to note this year.
Events & AwardsJun 01, 2026
Design Atelier Brands Have a Big Night at Emotional Couture Design AwardsThe show started by honoring Mildred Marcano, ended with a tearful Beth Anne Bonanno, and recognized a dozen-plus designers in between.
SourcingJun 01, 2026
RapNet Rebranding as Rapaport TradeThe revamped online diamond marketplace will feature pricing intelligence and data-driven tools for more efficient buying and selling.
SourcingJun 01, 2026
Gemfields’ Higher-Quality Emerald Auction Achieves $26.8MThe miner said demand for higher-quality emeralds is stable, but there is notable caution in the market.
CollectionsMay 29, 2026
Cultus Artem’s Necklace Is the Oasis in Las Vegas’ DesertThe “River of Heaven” necklace, our Piece of the Week debuting at Couture, combines 26 salt and pepper diamonds spaced by Tahitian pearls.
IndependentsMay 29, 2026
Meet the 2026 Retailer Hall of Fame InducteesThis year’s inductees include second-, third-, and fourth-generation jewelers.
Events & AwardsMay 28, 2026
JCK Announces Jesse Itzler as 2026 Keynote SpeakerThe author, speaker, and entrepreneur will give his presentation, “Spiritual Billionaire,” on Saturday morning.
Events & AwardsMay 28, 2026
JCK Rocks To Ride With NellyThree-time Grammy award-winning artist Nelly is set to perform at the annual event at Tao Beach on Sunday night.
MajorsMay 28, 2026
Signet Jewelers to Buy The Clear Cut Signet will integrate the online-only, natural diamond-focused jeweler into Blue Nile, which it wants to position as a higher-end retailer.
