WatchesAug 07, 2025
Bulova’s New Collection Honors Tony BennettThe first watch in the series commemorates his participation in the Civil Rights movement, marching from Selma to Montgomery in 1965.
FinancialsNov 29, 2017
Tiffany Sees Americas Comps Rise 1% in Q3
Total sales in the region also were up 1 percent, bolstered by a strong performance from the fashion jewelry segment.
Tiffany said in its third quarter earnings call that it believes consumers will continue to be attracted to the in-store experience. The retailer recently opened the Blue Box Café at its Fifth Avenue flagship, pictured here, when it renovated the store’s fourth floor.
New York--Strong sales in the fashion jewelry and high, fine and solitaire segments helped turn around business for Tiffany & Co. in its third quarter.
Same-store sales in the Americas were up 1 percent in the period ended Oct. 31, while total sales in the region reached $421 million in the third quarter, a 1 percent increase over the prior year.
On a constant-exchange-rate basis, total sales rose 1 percent in the third quarter, with comparable store sales about flat.
The jeweler attributed the sales performance to higher spending by local customers, even as sales to foreign tourists continued to slow. Tiffany noted an increase in the number of jewelry units sold across all categories in the Americas, with the exception of engagement jewelry.
Worldwide, meanwhile, comps were down 1 percent year-over-year, while sales increased 3 percent to $976 million.
On a constant-exchange-rate basis, global sales increased 3 percent and comparable store sales were equal to the prior year.
Net earnings for the quarter increased 5 percent from $95 million in the third quarter last year to $100 million. Gross margin was nearly flat at 61 percent.
Mark Aaron, vice president of investor relations, said during the company’s earnings call Wednesday morning that it was encouraged by the growth of higher jewelry sales volume rather than ticket prices.
He also noted they saw continued growth in fashion jewelry and resumption of growth in high, fine and solitaire jewelry, led by iconic diamond jewelry designs, especially the popular Victoria, yellow diamonds and Soleste collections.
This was offset by sales of engagement jewelry, which continued to “underperform.”
In response to the trend of consumers wanting to customize their rings, Tiffany has introduced a program in the United States and Canada that allows them to choose their own diamond cut, setting and metal.
Meanwhile, the company’s e-commerce sales grew more than overall sales during the quarter, but Aaron noted that, while it will continue to invest in online and digital marketing, Tiffany believes most customers “still are and will continue to be attracted to the in-store experience.”
Most recently, Tiffany’s Fifth Avenue flagship in New York has seen a lot of activity, including the reopening of its just-revamped fourth floor, which is home to accessories and tableware collection. It also now houses the Blue Box Café, which, Aaron said, based on long lines every day, is “fast becoming a New York tradition.”
Tiffany also recently
Editors' Picks
Sponsored by
opened two pop-up shops in New York City--in Rockefeller Center and Grand Central Terminal--offering a selection of jewelry and gifts curated by Creative Director Reed Krakoff. Aaron said the company is “excited about the sales potential and brand exposure from those two shops.”
Globally, the company saw mixed results in its sales performances during the most recent quarter.
In Asia-Pacific, total sales rose 15 percent to $283 million in the third quarter while comps were up 2 percent. Tiffany said the sales growth in the region resulted from increased wholesale and retail sales.
In Japan, meanwhile, total sales of $139 million in the third quarter were down 8 percent compared with the prior-year period. Same-store sales also were down 8 percent during the three-month period. According to Tiffany, the sales decline reflected the negative effect of a weaker yen versus the dollar.
Total sales in Europe were up increased 5 percent in the third quarter to $110 million, while comps were down 3 percent. The retailer noted total retail sales growth across most of continental Europe, with a decline in sales in the U.K.
Year-to-date, Tiffany has opened seven company-operated stores and closed five.
As of the end of October, it operated 315 stores (125 in the Americas, 86 in Asia-Pacific, 54 in Japan, 46 in Europe and four in the UAE), compared with 313 stores in the prior year (125 in the Americas, 85 in Asia-Pacific, 55 in Japan, 43 in Europe and five in the UAE).
Tiffany management said it expects worldwide net sales for fiscal 2017 to be up over the prior year by a low-single-digit percentage.
Globally, the company saw mixed results in its sales performances during the most recent quarter.
In Asia-Pacific, total sales rose 15 percent to $283 million in the third quarter while comps were up 2 percent. Tiffany said the sales growth in the region resulted from increased wholesale and retail sales.
In Japan, meanwhile, total sales of $139 million in the third quarter were down 8 percent compared with the prior-year period. Same-store sales also were down 8 percent during the three-month period. According to Tiffany, the sales decline reflected the negative effect of a weaker yen versus the dollar.
Total sales in Europe were up increased 5 percent in the third quarter to $110 million, while comps were down 3 percent. The retailer noted total retail sales growth across most of continental Europe, with a decline in sales in the U.K.
Year-to-date, Tiffany has opened seven company-operated stores and closed five.
As of the end of October, it operated 315 stores (125 in the Americas, 86 in Asia-Pacific, 54 in Japan, 46 in Europe and four in the UAE), compared with 313 stores in the prior year (125 in the Americas, 85 in Asia-Pacific, 55 in Japan, 43 in Europe and five in the UAE).
Tiffany management said it expects worldwide net sales for fiscal 2017 to be up over the prior year by a low-single-digit percentage.
More on Financials
The Latest
Lab-GrownAug 07, 2025
Chatham Releases Catalog for Loose Lab-Grown GemstonesThe catalog contains a complete listing of all the loose gemstones in stock, as well as information about the properties of each stone.
TechnologyAug 07, 2025
Rembrandt Charms Debuts New Website, Bird CharmsThe company added a retailer dashboard to its site and three new birds to its charm collection, the cardinal, blue jay, and hummingbird.
Brought to you by
Taking the Moment Head On: How Rio Grande Champions the Present & Future of Fine JewelryAs a leading global jewelry supplier, Rio Grande is rapidly expanding and developing new solutions to meet the needs of jewelers worldwide.
Policies & IssuesAug 06, 2025
Tariff on India to Rise to 50%, Trump Says An additional 25 percent tariff has been added to the previously announced 25 percent.
Weekly QuizJul 31, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
MajorsAug 06, 2025
Claire’s Files for Chapter 11 Bankruptcy AgainThe jewelry and accessories retailer plans to close 18 stores as part of the proceedings.
IndependentsAug 06, 2025
Smith & Son Jewelers to Close 107-Year-Old Location Its Springfield, Massachusetts, store is set to close as owner Andrew Smith heads into retirement.
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.
CollectionsAug 06, 2025
Zahn-Z Swims With Whales in ‘Beluga’ CollectionDesigner Hiba Husayni looked to the whale’s melon shaped-head, blowhole, and fluke for her new chunky gold offerings.
TrendsAug 06, 2025
Paola De Luca to Release Trendbook 2027+She will present the 23rd edition of the trend forecasting book at Vicenzaoro on Sept. 7.
CrimeAug 05, 2025
Report: Suspect Arrested in 1992 Murder of Miami JewelerOmar Roy, 72, was arrested in connection with the murder of jeweler Dionisio Carlos Valladares.
CollectionsAug 05, 2025
Mignon Faget Commemorates 20th Anniversary of Hurricane KatrinaThe New Orleans-based brand’s “Beyond Katrina” jewels honor the communities affected by the storm.
ColumnistsAug 05, 2025
The PR Adviser: Affiliate Marketing Is the Cost of CoverageLilian Raji explains why joining an affiliate network is essential for brands seeking placements in U.S. consumer publications.
Events & AwardsAug 05, 2025
JA Announces Seymour & Evelyn Holtzman Bench Scholarship WinnersThe organization has awarded a total of $42,000 through its scholarship programs this year.
Events & AwardsAug 04, 2025
Gem Awards, David Yurman Introduce $50K Grant for Emerging DesignersThe winner of the inaugural David Yurman Gem Awards Grant will be announced live at the 2026 Gem Awards gala.
TrendsAug 04, 2025
Amanda’s Style File: August’s Bright BaublesAs summer winds down, celebrate the sunny disposition of the month’s birthstones: peridot and spinel.
CrimeAug 04, 2025
‘The Watch King’ Assaulted, Robbed in QueensMoshe Haimoff, a social media personality and 47th Street retailer, was robbed of $559,000 worth of jewelry by men in construction outfits.
MajorsAug 04, 2025
Borsheims Welcomes New Assistant Facilities ManagerXavier Dibbrell brings more than a decade of experience to the role.
MajorsAug 01, 2025
Helzberg President Julie Yoakum Moves Over to Signet JewelersThe addition of Yoakum, who will lead Kay and Peoples, was one of three executive appointments Signet announced Thursday.
MajorsAug 01, 2025
Jewelers Mutual Names Mike Alexander as President The insurance company’s previous president and CEO, Scott Murphy, has split his role and will continue as CEO.
SourcingAug 01, 2025
Gemfields’ Auction Revenue Drops 50% in H1The nearly six-month pause of operations at its Kagem emerald mine earlier this year impacted the miner’s first-half results.
CollectionsAug 01, 2025
Piece of the Week: Hernsdorf’s ‘Tears of Aphrodite’ NecklaceThe necklace uses spinel drops to immortalize the moment Aphrodite’s tears mixed with her lover Adonis’ blood after he was fatally wounded.
SourcingJul 31, 2025
De Beers Records $189M First-Half Loss The diamond miner and marketer warned last week that it expected to be in the red after significantly cutting prices in Q2.
Events & AwardsJul 31, 2025
These Are the 2025 CASE Award WinnersJewelers of America’s 35th annual design contest recognized creativity, artistry, style, and excellence.
IndependentsJul 31, 2025
Matthew Tratner Takes Over as CBG President Tratner succeeds Andie Weinman, who will begin stepping back from the buying group’s day-to-day operations.
Policies & IssuesJul 30, 2025
Tariff on India Will Be 25%, Trump Says The president made the announcement via Truth Social Wednesday, adding that India also will face a penalty for its dealings with Russia.
WatchesJul 30, 2025
Peek Inside Zadok Jewelers’ New Rolex Showroom in AustinIts opening marks the completion of the retailer’s new 11,000-square-foot store in the Texas capital.
