MajorsMay 16, 2025
Saks Fifth Avenue, Amazon Partner on Luxury Online StorefrontPlus, parent company Saks Global announces plans to cut ties with up to 600 vendors.
FinancialsJan 18, 2017
Tiffany Loses, Birks Gains in 2016 Holiday Season
While Birks Group turned in a strong performance, Tiffany’s Trump Tower woes brought down sales.
Tiffany said its decrease in sales in the United States was due in part to the post-election, Trump Tower-caused foot traffic problems seen at its Fifth Avenue flagship store in New York.
New York--Holiday retail results keep filtering in, and while Birks Group turned in a strong performance, Tiffany & Co.’s sales were affected by Trump Tower-caused foot traffic woes at its New York flagship.
In the two-month period ended Dec. 31, Tiffany reported that both same-store sales and total sales ($483 million) in the Americas were down 4 percent year-over-year.
The company attributed the decline to lower spending in the region overall being compounded by the 14 percent drop in sales at its flagship store on Fifth Avenue in New York due to post-election traffic disruptions, an issue the company also noted during its third quarter results.
Worldwide, the company saw comparable store sales decline 2 percent while net sales were basically flat at $966 million during the two-month period, with sales growth in Asia-Pacific and Japan offsetting the weaker performances in the Americas and Europe.
In the Asia-Pacific region, total sales were up 7 percent to $200 million and comps were down 4 percent, while in Japan sales rose 16 percent to $143 million and comps were up 21 percent on higher spending by local customers.
In Europe, total sales of $119 million were 10 percent below the prior-year period and comps declined 11 percent over 2015 as demand across the continent remained weak among both locals and foreign tourists.
Tiffany CEO Frederic Cumenal said that the holiday season results were “somewhat lower” than what they had expected.
He also noted that while Tiffany doesn’t expect 2016’s macroeconomic challenges to ease this year, it will continue to focus on enhancing the in-store experience for customers and adding to the product lineup.
Meanwhile, the Birks Group, which operates 46 luxury jewelry stores across Canada, Florida and Georgia, also released its holiday results.
The company said U.S. comps during the season (Oct. 30 to Dec. 31) increased by 16 percent while Canadian comps grew 3 percent on a constant-exchange-rate basis. The growth in both areas was due largely to the company’s growth in average sales transaction and conversation rates.
Overall same-store sales for the company increased 11 percent year-over-year on a consolidated constant- exchange-rate basis.
The company attributed its strong holiday season to a focus on Birks-branded products, marketing campaigns and the in-store customer experience.
More on Financials
The Latest
Recorded WebinarsMay 16, 2025
Watch: Physical Retail Is Not DeadPeter Smith joined Michelle Graff to chat about the state of brick-and-mortar stores and share a few book and podcast recommendations.
CollectionsMay 16, 2025
Piece of the Week: Tejen’s ‘Candy Bowl’ Torque NecklaceThe necklace features a candy-colored Australian white opal in 18-karat Fairmined gold, as the brand was named a Fairmined ambassador.
Brought to you by
Las Vegas Antique Jewelry & Watch Show: Showcasing the Most Collectible Merchandise from Across the GlobeGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
Supplier BulletinMay 15, 2025
Treasure Hunting at the Las Vegas Antique Jewelry and Watch ShowSponsored by the Las Vegas Antique Jewelry and Watch Show
Weekly QuizMay 15, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
AuctionsMay 15, 2025
'The Mediterranean Blue' Diamond Sells for $21M at Sotheby’sA private American collector purchased the 10-carat fancy vivid blue diamond.
CollectionsMay 15, 2025
Jessica McCormack’s ‘Fruit Salad’ Collection Is Fresh for SummerThe designer has taken the appeal of freshly picked fruit and channeled it into a capsule collection of earrings, necklaces, and pendants.
Brought to you by
Watch: The Winston Red: GIA Examines the Smithsonian’s Newest AdditionSupplier Spotlight Sponsored by GIA
SourcingMay 15, 2025
Tariffs Take Toll on India’s Gem and Jewelry Industry in April The country’s gem and jewelry exports fell 5 percent year-over-year last month, while imports declined 18 percent.
Policies & IssuesMay 15, 2025
State of Retail: How to Better Serve Customers With DisabilitiesAround 54 million Americans and counting live with a disability. Here’s how to make your jewelry store and website more accessible.
Events & AwardsMay 15, 2025
Poet Sekou Andrews to Give Closing Keynote at ConvergeThe event is also accepting poster submissions now through June 16.
Policies & IssuesMay 14, 2025
Here’s What Happened to Pope Francis’ RingBefore Pope Leo XIV was elected, a centuries-old procedure regarding the late pontiff’s ring was followed.
AuctionsMay 14, 2025
Custom Rolex Pulled From Sotheby’s SaleThe one-of-a-kind platinum Rolex Cosmograph Daytona was estimated to fetch up to $1.7 million.
Lab-GrownMay 14, 2025
State of Diamonds: What’s Next for Lab-Grown Diamonds?While the product has entrenched itself in the market, retailers and consultants are assessing the next phase of the category’s development.
CrimeMay 14, 2025
Seattle Detectives Seek Public’s Help in Tiffany & Co. Robberies The police are trying to identify the man suspected of robbing two Tiffany & Co. locations in the area.
MajorsMay 14, 2025
Jeff Corey Elected Chair of JBT Board The well-known Maine jeweler takes over for Brian Fleming and will serve a one-year term.
Policies & IssuesMay 14, 2025
Foundrae Donates $11K to Ethical MetalsmithsThe donation was the result of the brand’s annual Earth Day Ingot event.
IndependentsMay 13, 2025
Eiseman Jewels’ Renovated Dallas Store Is Bigger and BetterLocated in NorthPark Center, the revamped store is nearly 2,000 square feet larger and includes the first Tudor boutique in Dallas.
MajorsMay 13, 2025
DCA Announces New Learning Platform, Course UpdatesThe nonprofit has made updates to the content in its beginner and advanced jewelry sales courses.
MajorsMay 13, 2025
BIJC Launches New Education FundBIJC President Malyia McNaughton will shift roles to lead the new foundation, and Elyssa Jenkins-Pérez will succeed her as president.
TrendsMay 13, 2025
State of Jewelry Design: The Top 10 Jewelry Trends of the Past DecadeAs a nod to the theme of JCK Las Vegas 2025, “Decades,” National Jeweler took a look back at the top 10 jewelry trends of the past 10 years.
Lab-GrownMay 12, 2025
Lightbox to Go Dark by Summer, De Beers Says The company plans to halt all consumer-facing activity this summer, while Lightbox factory operations will cease by the end of the year.
Policies & IssuesMay 12, 2025
Tariffs on Chinese Imports Temporarily Slashed as U.S.-China Reach Deal Following weekend negotiations, the tax on Chinese goods imported into the United States will drop by 115 percent for the next 90 days.
Events & AwardsMay 12, 2025
Jewelry By Picasso, Dalí on Display at Florida Art Museum “Artists’ Jewelry: From Cubism to Pop, the Diane Venet Collection” is on view at the Norton Museum of Art through October.
Events & AwardsMay 12, 2025
CASE Awards Now Accepting Entries For 2025The deadline to submit is June 16.
IndependentsMay 09, 2025
Lugano Diamonds CEO Resigns Amid Internal InvestigationMoti Ferder stepped down Wednesday and will not receive any severance pay, parent company Compass Diversified said.
CollectionsMay 09, 2025
Pieces of the Week: Marie Lichtenberg’s Collaborations for Mother’s DayLichtenberg partnered with luxury platform Mytheresa on two designs honoring the connection between mothers and daughters.
