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.
FinancialsJan 18, 2019
Tiffany Holiday Sales Slip as Chinese Tourist Demand Wanes
Worldwide same-store sales were down 2 percent while comps in the Americas fell flat.
Tiffany & Co.’s engagement ring sales were down 3 percent over the holiday season while sales of jewelry collections ticked up 2 percent and designer jewelry sales fell 8 percent. Pictured here is the new engagement ring style the retailer introduced last year, Tiffany True.
New York—Tiffany’s sales fell short this holiday season as demand from Chinese tourists dipped, putting a damper on its full-year profit outlook.
Fewer people found an iconic Tiffany & Co. blue box under their trees, with worldwide net sales for the New York-based jeweler slipping 1 percent to $1.04 billion compared with $1.05 billion last year.
Worldwide same-store sales fell by 2 percent compared with the 5 percent uptick in the previous holiday season.
“We attribute the difference partly to lower sales to foreign (primarily Chinese) tourists globally, and to softening demand attributed to local customers in the Americas and Europe, which we believe may have been influenced more than expected by external events, uncertainties and market volatilities,” stated CEO Alessandro Bogliolo said.
Sales in the Americas, where the most Tiffany stores are located, dipped 1 percent to $514 million as both locals and foreign visitors spent less. Same-stores sales remained equal to last year.
European sales were down 4 percent to $132 million, with same-store sales dropping 5 percent.
Asia-Pacific sales declined 3 percent to $226 million as same-stores sales were down 4 percent. While Tiffany pointed to strong growth in mainland China, it noted that demand softened in other markets that rely heavily on foreign tourist spending.
Japan was the shining exception, reporting a 4 percent increase in sales to $150 million as local customers spent more. Same-stores sales also were up 4 percent.
Sales from the “other” segment, which includes five Tiffany stores in the United Arab Emirates, sank 11 percent to $132 million, despite having an additional location in the region this holiday season.
There were 321 Tiffany stores in operation as of Dec. 31, five more than the previous year.
Breaking it down by category, sales of jewelry collections, lines like Tiffany T and Paper Flowers, rose by 2 percent while engagement jewelry sales fell 3 percent.
Sales of jewelry from designers Elsa Peretti, Paloma Picasso and Tiffany & Co. Schlumberger dipped 8 percent.
For the year ahead, Tiffany expects full-year profit to be between $4.65 and $4.80 per share, at the lower end of its previous guidance.
Annual sales are expected to rise 6 to 7 percent, compared with its prior guidance of a high-single-digit increase.
Signet Jewelers also reported a dip in sales this holiday season and lowered its full-year profit forecast as well.
Bogliolo, an industry veteran who took the reins at Tiffany in July 2017, said the plan is to double down
on the six-step turnaround plan announced in 2018, which includes “amplifying an evolved brand message” and “delivering an exciting omnichannel customer experience”.
More on Financials
The Latest
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.
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.
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.
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.
Weekly QuizJul 31, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
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.
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.
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.
SurveysJul 30, 2025
Consumer Confidence Ticks Up in JulyRespondents shared concerns about tariffs and commentary on the “Big Beautiful Bill.”
SourcingJul 30, 2025
Rob Bates to Release Latest Book in His ‘Diamond District Mystery’ Series“Making a Killing in Diamonds” tells the story of Mimi Rosen, the disappearance of a scientist, and the murder of lab-grown diamond CEO.
EditorsJul 29, 2025
Out & About: Visiting Tacori’s Design Studio in LASenior Editor Lenore Fedow learned a lot when she took a behind-the-scenes factory tour with the jewelry brand earlier this year.
Events & AwardsJul 29, 2025
Melee The Show Welcomes 15 New DesignersThe first-time exhibitors, set to debut at the New York City show, share a devotion to craftsmanship, storytelling, and material integrity.
SourcingJul 29, 2025
Auctim to Offer 7.3M+ Carats of Rough EmeraldsThe online auction house’s September sale will feature rough Brazilian emeralds of various qualities.
MajorsJul 29, 2025
Alexis Padis Re-Elected AGS Board President She’ll lead an executive committee consisting of President-Elect Bryan Moeller, Mitchell Clark, Bill Farmer, and Larry Rickert.
Policies & IssuesJul 28, 2025
U.S.-EU Come to Agreement on Tariffs Announced Sunday, the deal will set the tax on goods imported into the United States from the European Union at 15 percent.
CollectionsJul 28, 2025
Nanis Brings a New Palette to ‘Ipanema’A new edition of the Italian brand’s “Ipanema” collection has debuted with gemstones that evoke Brazil’s breathtaking views.
MajorsJul 28, 2025
The 1916 Company Partners with ‘Shark Tank’ Star’s Watch Insurance PlatformThe retailer will refer its customers to WonderCare, founded by venture capitalist and watch collector Kevin O’Leary.
IndependentsJul 28, 2025
Sissy’s Log Cabin to Open Flagship in Arkansas The jeweler’s largest store yet is set to open in Little Rock next fall.
CollectionsJul 25, 2025
Piece of the Week: Jemma Wynne’s ‘Forme’ NecklaceAnne Hathaway was seen wearing the toggle necklace three times while filming scenes for “The Devil Wears Prada 2.”
Events & AwardsJul 25, 2025
Pre-Registration Open for September Hong Kong ShowJewellery & Gem World Hong Kong is scheduled for Sept. 15 to 21, and buyer pre-registration will be available until Sept. 7.
Events & AwardsJul 24, 2025
2 Retailers to Receive 2026 Gem Award for Lifetime AchievementMark and Candy Udell of London Jewelers will receive the honor at the 24th annual Gem Awards next March.
SourcingJul 24, 2025
De Beers Sees Diamond Production Sink 36% in Q2 While struggles continue at the mining and trading end of the pipeline, consumer demand for diamond jewelry is holding steady.
CollectionsJul 24, 2025
Francesca Villa Adds Dimension to Her Intaglio CharactersThe “Fantasia” jewelry collection turns the intaglio animals from her “Close Encounters” collection into 3D characters.
WatchesJul 24, 2025
Breitling Drops Super Bowl Watch Honoring the Philadelphia Eagles The special Classic Avi Chronograph 42 with an Eagles-green dial is limited to 59 pieces, a nod to the Super Bowl Philadelphia just won.
