Financials

Tiffany & Co. Q4 Comps Down 2% in Americas

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.

2017_Tiffany-Wall-Street.jpg
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.
Brecken Branstratoris the senior editor, gemstones at National Jeweler, covering sourcing, pricing and other developments in the colored stone sector.

The Latest

Gemist
TechnologyJun 27, 2025
Gemist Raises $6M in Funding to Scale Jewelry Tech Platform

The company is focused on modernizing the custom jewelry buying experience with e-commerce tools like product visualization and 3D styling.

Jeff Preolo, David Stout, Levi Higgs, David Benavides
IndependentsJun 27, 2025
David Webb Announces New Hires, Promotions

Following its recent acquisition, the storied brand has updated its leadership team and regional managers.

Blake Graham and Jessica Kohoutek
Events & AwardsJun 27, 2025
AGS, GIA Announce Beatrice Shipley Scholarship Winner

AGS also named the recipient of its “Women in Leadership” scholarship.

an instructor and a student in a bench jewelry classroom
Brought to you by
Investing in the Next Generation of Bench Jewelers

The Seymour & Evelyn Holtzman Bench Scholarship from Jewelers of America returns for a second year.

Buddha Mama Monstera Ring
CollectionsJun 27, 2025
Piece of the Week: Buddha Mama’s ‘Monstera’ Wrap Ring

The 20-karat yellow gold and diamond wrap ring is modeled after the Monstera plants in the garden of the brand’s Miami villa.

Weekly QuizJun 26, 2025
This Week’s Quiz
Test your jewelry news knowledge by answering these questions.
Take the Quiz
Cashier handing Rocksbox bag to customer
MajorsJun 26, 2025
Why Rocksbox Is Opening Stores As Signet Jewelers Downsizes

Rocksbox President Allison Vigil shared the retailer’s expansion plans, and her thoughts on opening stores in malls.

Penny Ruston
IndependentsJun 26, 2025
Penny Ruston Dies at 80

The creator of the WJA Chicago chapter is remembered as a champion for women in the jewelry industry and a loving grandmother.

Jewelers of America logo with meetup, State of the Majors, giveaway and massages
Brought to you by
Jewelers of America is Headed to Las Vegas for JCK 2025

The countdown is on for the JCK Las Vegas Show and JA is pulling out all the stops.

Stock image of woman shopping
SurveysJun 26, 2025
After Recovering in May, Consumer Confidence Dips in June

The decline was consistent across age groups and almost all income groups, with tariffs and inflation still top of mind.

Sorellina Playlist: Electric Dreams Campaign
CollectionsJun 26, 2025
Jam Out With Sorellina’s Jimi Hendrix-Inspired Jewels

The “Playlist: Electric Dreams” collection brings lyrics from the musician’s song, “Little Wing,” to life through fine jewelry.

The Jewelry Symposium event
Events & AwardsJun 26, 2025
The Jewelry Symposium Is Looking for Speakers for 2026 Event

The event is set for May 16-19 in Detroit, Michigan.

Exterior of Marissa Collections’ new store in Nantucket, Massachusetts
IndependentsJun 25, 2025
Marissa Collections Opens in Nantucket as Legal Fight Continues

The Vault’s Katherine Jetter is accusing the retailer of using info she shared for a potential partnership to move into Nantucket.

Counterfeit Cartier “Juste Un Clou” bracelet
CrimeJun 25, 2025
Customs Nabs Another Big Shipment of Fake Cartier, Van Cleef Jewelry

Agents seized 2,193 pieces, a mix of counterfeit Cartier “Love” and “Juste Un Clou” bracelets, and Van Cleef & Arpels’ “Alhambra” design.

Karine Choudhrie Big Splash Circus Starfish and Lantern Fish
CollectionsJun 25, 2025
Splash into Karina Choudhrie’s Collection of Underwater Circus Performers

The designer brought her children’s book, “The Big Splash Circus,” to life through a collection of playful fine jewelry characters.

Jewelers of America
Events & AwardsJun 25, 2025
JA Announces Impact Initiative Fund Recipients

The trade association has chosen the recipients of the funding initiative it formed to foster the growth and sustainability of the industry.

John Dyer Montana Sun Sapphire
SourcingJun 25, 2025
2025 AGTA Spectrum Awards Open for Entries

The organization has also announced this year’s slate of judges.

Khepri Jewels Luna collection fancy color fringe multi-shape drop diamond earrings
EditorsJun 24, 2025
The Best New Jewelry from Couture 2025, Part 2

Associate Editor Natalie Francisco shares 20 additional pieces that stood out to her at the Couture show.

Lori Tucker
IndependentsJun 24, 2025
Colorado Bench Jeweler Celebrates 50 Years With Local Retailer

Lori Tucker started at Williams Jewelers when she was 18 years old.

“Marvel | Citizen Zenshin” watch for the new The Fantastic Four movie
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.

XO Tacori diamond ring
MajorsJun 24, 2025
Tacori, QVC to Launch Exclusive Lab-Grown Diamond Jewelry Collection

The “XO Tacori” collection was designed to blend luxury and accessible pricing.

Pritesh Patel
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.

Graphic for Las Vegas recap episode of “My Next Question”
Recorded WebinarsJun 23, 2025
Watch: Top Trends at Couture, JCK Las Vegas 2025

National Jeweler and Jewelers of America discuss the standout jewelry trends and biggest news to emerge from the shows this year.

Luanda Accord
SourcingJun 23, 2025
Diamond Producers, Organizations to Kick in Money to Promote Natural Diamonds

Signatories to the “Luanda Accord” committed to allocating 1 percent of annual diamond revenue to the Natural Diamond Council.

Penny Preville, Maggie Hess, Stella Song, and Benjamin King
Events & AwardsJun 23, 2025
Jose Hess Design Awards Celebrate 6 Jewelry Designers

The winning designs captured the “Radiance” theme.

24th Gem Awards Show Logo
Events & AwardsJun 23, 2025
Gem Awards Now Accepting Nominations for 2026

Nominations in the categories of Jewelry Design, Media Excellence, and Retail Innovation will be accepted through July 30.

Single Stone Bryn Ring and Grace Lee Marquise Demi Demi Ring
TrendsJun 20, 2025
Dua Lipa Stays On-Trend With Chunky Engagement Ring

The singer’s ring ticks off many bridal trends, with a thick band, half-bezel setting, and solitaire diamond.

Yvonne Léon Python Gold Bracelet
TrendsJun 20, 2025
Piece of the Week: Yvonne Léon’s ‘Python Gold’ Bracelet

The bracelet references vintage high jewelry and snake symbolism as a playful piece where a python’s head becomes a working belt buckle.

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy