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.
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
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.
SourcingMay 09, 2025
Gemfields Resumes Emerald Mining in ZambiaThe miner announced plans to recommence open-pit mining at Kagem.
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.
CrimeMay 08, 2025
Former NYC Jewelry Store Employee Arrested in 2017 Choking Death of Boss Michel Desalles allegedly murdered Omid Gholian inside World of Gold N Diamond using zip ties and then fled the country.
Weekly QuizMay 08, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
EditorsMay 08, 2025
5 ‘Superfine’ Met Gala Jewelry MomentsAssociate Editor Lauren McLemore shares her favorite looks from a night of style inspired by Black dandyism.
Supplier BulletinMay 08, 2025
Instappraise Introduces Game-Changing Trifold Appraisal FormatSponsored by Instappraise
Brought to you by
Watch: The Winston Red: GIA Examines the Smithsonian’s Newest AdditionSupplier Spotlight Sponsored by GIA
IndependentsMay 08, 2025
Margot McKinney Lands in the U.S. With New BoutiqueThe brand’s first independent location outside of Australia has opened in Beverly Hills, California.
IndependentsMay 08, 2025
Verragio Announces New Regional Sales ManagerCathy Marsh will lead the jewelry company’s efforts in the upper Midwest and western United States.
ColumnistsMay 07, 2025
The Smart Lab: Building a Seasonal Marketing Strategy for Mother’s Day and BeyondConnecting with your customers throughout the year is key to a successful holiday marketing push.
SourcingMay 07, 2025
Gemfields Says Emerald Sales Improved in Latest AuctionIts commercial-quality emerald sale held last month totaled more than $16 million, up from about $11 million in September 2024.
TechnologyMay 07, 2025
Punchmark’s Latest Podcast Features a Very Special Guest National Jeweler Editor-in-Chief Michelle Graff joined Michael Burpoe to talk tariffs, consumer confidence, and the sky-high price of gold.
AuctionsMay 06, 2025
Harwell Godfrey Reimagines 10-Carat Blue Diamond for Met Gala-Ready BroochDesigner Lauren Harwell Godfrey made the piece as an homage to the 2025 gala’s theme, “Superfine: Tailoring Black Style.”
Events & AwardsMay 06, 2025
Here’s Who Made Jewelers of America’s New ‘20 Under 40’ ListExpanded this year to include suppliers, JA’s 2025 list honors 40 up-and-coming professionals in the jewelry industry.
IndependentsMay 06, 2025
Sissy's Log Cabin Opens New StoreLocated in Fort Smith, it’s the Mid-South jeweler’s first store in Northwest Arkansas.
IndependentsMay 06, 2025
Gunderson’s Jewelers to Be Featured on ‘World’s Greatest’ TV SeriesThe episode about the family-owned jeweler will premiere May 17.
IndependentsMay 05, 2025
Zadok Jewelers Opens Store in AustinThe Houston-based jeweler’s new 11,000-square-foot showroom will include a Rolex boutique.
AuctionsMay 05, 2025
Nancy Astor’s Cartier Tiara Heads to AuctionThe turquoise and diamond tiara hasn’t been on the market since it was purchased by Lord Astor in 1930.
SourcingMay 05, 2025
Crater of Diamonds Yields 4-Carat Brown Diamond“The Duke Diamond” is the largest diamond registered at the Arkansas park so far this year.
TrendsMay 02, 2025
Ring Concierge, Kraft Partner on Mother’s Day Macaroni Necklace The childhood craft of making dried pasta necklaces for Mother’s Day is all grown up as the 14-karat gold “Forever Macaroni” necklace.
CollectionsMay 02, 2025
Piece of the Week: Angely Martinez’s Emerald Promise RingSet with May’s birthstone and featuring an earthworm, this ring is a perfect celebration of spring.
MajorsMay 02, 2025
Stuller’s New Bridal Catalog Is Here“Bridal 2025–2026” includes popular styles and a dedicated section for quick pricing references of lab-grown diamond bridal jewelry.
SourcingMay 01, 2025
Tariffs & Colored Gemstones: Relying on Stock, Considering the Ripple EffectThough currently paused, high tariffs threaten many countries where gemstones are mined. Dealers are taking measures now to prepare.
MajorsMay 01, 2025
Peek Inside David Yurman’s New Miami Flagship StoreLocated in Miami’s Design District, the 4,000-square-foot store is an homage to David and Sybil Yurman’s artistic roots.
TrendsMay 01, 2025
Amanda’s Style File: 20 Pieces of Emerald Jewelry for MayMay babies are lucky indeed, born in a month awash with fresh colors and celebrated with one of the most coveted colored gemstones.
MajorsMay 01, 2025
Jewelers of America Opens Applications for 2025 ScholarshipsThe deadline to apply for the Seymour & Evelyn Holtzman Bench Scholarship is June 12.
