Events & AwardsMay 26, 2026
CBG Brings Its Curated Designer Project to Las Vegas ShowThe Curated Designer Project has expanded to highlight eight independent jewelry designers during CBG’s Las Vegas show.
FinancialsMar 20, 2020
Tiffany Sees Q4 Sales Bump, Braces for Coronavirus Hit
The jeweler’s main focus is preparing to weather the coronavirus pandemic, said CEO Alessandro Bogliolo.
The Tiffany True engagement ring in platinum with a square mixed-cut diamond and in 18-karat yellow gold with a yellow diamond. The jeweler’s engagement jewelry sales were down 2 percent in its recent full-year results, but gold and diamond jewelry sales boosted its bottom line.
New York—Tiffany & Co. reported an increase in sales in the fourth quarter as gold and diamond jewelry boosted its balance sheet, but the coronavirus outbreak looms large as many of the retailer’s stores remain closed.
Worldwide net sales in the fourth quarter rose 3 percent to $1.36 billion, compared with $1.32 billion a year ago. Same-store sales were also up 3 percent.
Net sales for the full year clocked in at $4.44 billion, a slight increase compared with $4.42 billion a year ago, while same-store sales were unchanged.
“Our primary focus now is on preparing our company, business and communities for the COVID-19 pandemic and the return to normal operations,” CEO Alessandro Bogliolo said in a press release.
Tiffany’s stores in the United States and Canada have been closed temporarily as the countries grapple with the coronavirus outbreak.
In mainland China, the jeweler has lost half of its normal selling days since Jan. 24.
Looking at the jeweler’s fourth-quarter performance region by region, in the Americas, where the most Tiffany stores are located, net sales in the fourth quarter were up 4 percent to $640 million with same-store sales up 3 percent as local customers increased spending.
Full-year sales slipped 2 percent to $1.9 billion with same-store sales also down 2 percent. The dip in sales was attributed to lower spending by foreign tourists.
In the Asia-Pacific region, fourth-quarter net sales were up 8 percent to $342 million with same-store sales climbing 7 percent. For the full year, net sales were up 2 percent to $1.3 billion with same-store sales down 1 percent.
The company experienced “significant disruptions” in the Hong Kong market due to political unrest but double-digit growth in mainland China in the fourth quarter and the full year offset that.
European sales rose 4 percent to $168 million in the fourth quarter with same-store sales up 5 percent. For the full year, sales dipped 1 percent to $498 million with same-store sales down 1 percent.
In Japan, sales dipped 8 percent in the quarter to $180 million, which Tiffany said reflected a change in Japan’s consumption tax, with same-store sales also down 8 percent.
Full-year sales in Japan were up 1 percent to $650 million with same-store sales unchanged.
Sales from the “other” segment, which includes five Tiffany stores in the United Arab Emirates, fell 9 percent to $26 million in the quarter while same-store sales were up 11 percent.
Full-year sales were down
2 percent to $94 million with same-store sales down 9 percent, with the dip attributed to a decrease in wholesale sales of diamonds.
By category, sales from Tiffany’s jewelry collections, which includes lines like “Paper Flowers,” were up 2 percent while engagement jewelry sales dipped 2 percent.
The “Tiffany T” collection as well as its high jewelry were the sales drivers, the jeweler said, while sales of jewelry from designers Elsa Peretti, Paloma Picasso and Tiffany & Co. Schlumberger fell 6 percent
Bogliolo attributed growth in the fourth quarter to the company’s focus on “elevating our sales mix toward higher-value items within each jewelry product category, with the largest growth being in our gold and gold and diamond offerings.”
The higher price points of the gold and diamond offerings contributed to a 10 percent year-over-year increase in overall average unit retail price.
Highlights of Tiffany’s year include the addition of colorful pieces to its “Tiffany T” collection, a new men’s collection, the launch of his and hers Tiffany & Love fragrances, and the “Very, Very Tiffany” holiday campaign and catalog featuring luxe, high-ticket gift items.
As of Jan. 31, there were 326 Tiffany stores in operation worldwide, including 124 in the Americas. Nine stores opened and four closed this fiscal year.
Tiffany did not provide guidance for the year ahead as its acquisition by luxury titan LVMH is still pending.
By category, sales from Tiffany’s jewelry collections, which includes lines like “Paper Flowers,” were up 2 percent while engagement jewelry sales dipped 2 percent.
The “Tiffany T” collection as well as its high jewelry were the sales drivers, the jeweler said, while sales of jewelry from designers Elsa Peretti, Paloma Picasso and Tiffany & Co. Schlumberger fell 6 percent
Bogliolo attributed growth in the fourth quarter to the company’s focus on “elevating our sales mix toward higher-value items within each jewelry product category, with the largest growth being in our gold and gold and diamond offerings.”
The higher price points of the gold and diamond offerings contributed to a 10 percent year-over-year increase in overall average unit retail price.
Highlights of Tiffany’s year include the addition of colorful pieces to its “Tiffany T” collection, a new men’s collection, the launch of his and hers Tiffany & Love fragrances, and the “Very, Very Tiffany” holiday campaign and catalog featuring luxe, high-ticket gift items.
As of Jan. 31, there were 326 Tiffany stores in operation worldwide, including 124 in the Americas. Nine stores opened and four closed this fiscal year.
Tiffany did not provide guidance for the year ahead as its acquisition by luxury titan LVMH is still pending.
More on Financials
The Latest
Events & AwardsMay 26, 2026
12 JCK Talks Sessions to Add to Your Las Vegas ScheduleThe trade show’s education series returns, with sessions on retail trends, AI, watches, marketing, corporate responsibility, and more.
TrendsMay 26, 2026
Amanda’s Style File: A Cooldown Is ComingBring a cool tone to your summer jewelry with these white metal pieces.
Brought to you by
All Eyes on Gold Prices. Alternatives to Look For. And What to BEWARE of in VegasAs gold prices rise, today’s retailers are looking for alternatives at prices that will appeal to wider audiences.
ColumnistsMay 25, 2026
The Key Mindset for Better Trade Show BuyingBuying discipline at trade shows starts with clarity about your inventory levels, Smith writes.
Weekly QuizMay 21, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsMay 22, 2026
Instore Buys JA New York ShowThe deal closed this week, which means Instore will produce the JA NY show slated to take place this fall.
CollectionsMay 22, 2026
Leigh Maxwell Celebrates 5 Years at Couture With ‘Bauble’ CollectionThe “Bauble” capsule collection of colorful one-of-a-kinds includes our Piece of the Week, the “Bauble” earrings, featuring rose zircon.
Brought to you by
How Modern Training Is Becoming a Competitive Advantage for Jewelry RetailersWith the trade and customer trust in mind, GIA® developed NextGem™ – on-demand training designed specifically for retail.
MajorsMay 22, 2026
Stuller’s New Packaging, Display Catalog Is Out The updated catalog has a newly dedicated section for gift wrapping.
PodcastsMay 21, 2026
Episode 5: Sotheby’s Frank Everett Puts the Auction Market in PerspectiveEverett covers colored stones’ surging popularity, the mellow return of the “Mellon Blue,” and his “The Devil Wears Prada” doppelgänger.
IndependentsMay 21, 2026
Springer’s Jewelers’ New Flagship Will Serve Next-Gen Luxury ShoppersFourth-generation CEO Lilly Mullen wants to emphasize experience, connection, and personalized service.
Events & AwardsMay 21, 2026
JA Announces Nina Pugliese Memorial ScholarshipThe new award, created in partnership with Henne Jewelers, honors the late designer’s legacy through supporting jewelry education.
SourcingMay 21, 2026
Botswana, Angola Join WFDBThe addition of the diamond-producing countries as nation affiliated members broadens the federation’s global representation, WFDB said.
CrimeMay 20, 2026
NYPD Warns of Jewelry Swap Scams Targeting SeniorsThe NYPD is warning elderly New Yorkers to keep their jewelry hidden when walking outside to avoid being a target.
IndependentsMay 20, 2026
Adornment & Theory’s New Store Feels Like Home Designer Viviana Langhoff has realized her dream of owning a space for her Chicago jewelry store that looks and feels like her brand.
Events & AwardsMay 20, 2026
Here Is Couture’s 2026 Education Lineup The sessions will run from Friday, May 29, to Sunday, May 31, with one being a live taping of an episode of Couture’s podcast.
Lab-GrownMay 20, 2026
Savannah Friedkin Jewelry Names New CEOFormer Stephanie Gottlieb Fine Jewelry executive Morgan P. Richardson is joining the lab-grown diamond jewelry brand.
WatchesMay 19, 2026
Here’s the AP x Swatch Pocket Watch That Caused PandemoniumThe $400 pocket watch is a blend of Audemars Piguet’s iconic eight-sided Royal Oak and Swatch’s unserious Pop watches from the ‘80s.
CollectionsMay 19, 2026
Chris Ploof’s New Collection Makes an Ancient Metal ModernWith gold prices on the rise, the “Modern Electrum” collection uses an alternative, non-tarnishing metal alloy composed of gold and silver.
IndependentsMay 19, 2026
Ellen and Michael Fruchtman Retire, Sell Marketing Agency Fruchtman Marketing has new owners, Erin Moyer-Carballea and Manuel Carballea, and will relocate to Miami.
ColumnistsMay 19, 2026
Peter Smith: The (Mostly) Immutable Sales TruthsIn a column for the 2026 State of the Majors issue, Smith lists 10 time-tested principles about sales that still ring true.
ColumnistsMay 18, 2026
Edahn Golan: What a K-Shaped Economy Means for Fine JewelryIn a column for the 2026 State of the Majors issue, Golan spells out how the growing economic divide in the U.S. is reshaping the market.
CollectionsMay 18, 2026
Foundrae’s New Collection Taps Into JoyThe “Limitless Expansion of Joy and Hope” collection evokes summer through colored gemstones and motifs of butterflies and florals.
CollectionsMay 18, 2026
Hancocks London Acquires Historic ‘Inchiquin’ EmeraldThe jewel, circa 1890, is from the late Victorian era and was owned by descendants of the last high king of Ireland.
Events & AwardsMay 18, 2026
Here Are the 2026 JCK Industry Fund Grant Recipients This is what the nine recipients plan to do with the funds.
AuctionsMay 15, 2026
American Collector Ponies Up Almost $17K for John Wayne’s RingThe Western star’s 14-karat gold signet ring sold for six times its low estimate following a bidding war at U.K. auction house Elmwood’s.
Events & AwardsMay 15, 2026
JA, MJSA To Sponsor Roundtable at TJSThe discussion, "Rebuilding the Jewelry Workforce," will take place on Saturday, May 16, in Troy, Michigan.
