Events & AwardsNov 18, 2025
NYC Jewelry Week 2025: 12 Must-See EventsWith more than 140 activations taking place in New York City now through Nov. 23, these 12 events are can’t-miss moments.
FinancialsNov 24, 2020
Tiffany’s Q3 Buoyed by Online, Asia-Pacific Sales
The jeweler’s retail sales in mainland China were up more than 70 percent in the third quarter.
The “Five Golden Schlumberger Rings” ($210,000) featured in Tiffany & Co.’s 2019 high-end holiday gift guide. Worldwide net sales in the third quarter were down just 1 percent.
New York—Tiffany & Co.’s worldwide sales showed signs of hope in the third quarter, bolstered by a strong performance in the Asia-Pacific region and soaring online sales.
Worldwide net sales in the third quarter slipped 1 percent year-over-year to $1 billion, compared with around $1 billion a year ago. Same-store sales were up 3 percent.
Quarterly net earnings climbed 52 percent year-over-year to $119 million.
In the first nine months, worldwide net sales fell 25 percent to $2.3 billion, compared with $3.1 billion a year ago, while comparable sales sank 22 percent.
Year-to-date net earnings were $86 million, down 75 percent compared with last year.
Tiffany’s e-commerce business thrived, up 92 percent worldwide in the third quarter.
Online sales now account for 12 percent of total sales year-to-date, double the 6 percent reported in the last three fiscal years.
“We had a strong third quarter both in sales on a relative basis and terrific results in profitability on an absolute basis, which speaks volumes about the enduring strength of the Tiffany brand and gives us confidence as we enter the important holiday season,” said CEO Alessandro Bogliolo in a press release about the results.
In the Americas, where the most Tiffany stores are located, net sales in the third quarter fell 16 percent to $354 million with same-store sales down 15 percent. Year-to-date sales were down 36 percent to $826 million with same-store sales down 35 percent.
The decline in sales was attributed to the decline in foreign tourism coupled with the effects of COVID-19 and the store closures, which affected Tiffany from March to June.
The Asia-Pacific region was a stand-out on its balance sheet with third-quarter net sales climbing 30 percent to $382 million and same-store sales up 40 percent. Year-to-date sales were down 7 percent to $854 million with same-store sales up 3 percent.
In mainland China, retail sales were up more than 70 percent with comparable sales doubling compared to the prior year.
Retail sales in mainland China and Korea remained strong, offsetting the weaknesses in other regions due to COVID-19, store closures, and a decline in wholesale travel retail sales. Online sales in the region also performed well.
In Europe, sales fell 6 percent to $104 million in the third quarter with same-store sales down 6 percent, also attributed to COVID-19 disruptions. Year-to-date sales were down 24 percent to $249 million
with same-store sales down 25 percent.
In Japan, sales declined 8 percent in the quarter to $156 million with same-store sales down 4 percent, due to a decline in tourist traffic. Year-to-date sales were down 25 percent to $353 million with same-store sales down 23 percent.
Sales from the “other” segment, which includes five Tiffany stores in the United Arab Emirates, sank 30 percent to $12 million due in part to lower wholesale sales of diamonds. Year-to-date sales were down 59 percent to $28 million.
By category, sales from Tiffany’s jewelry collections, which includes lines like “Paper Flowers,” were up 7 percent in the quarter and down 21 percent year-to-date.
Engagement jewelry sales were down 6 percent in the quarter and down 21 percent year-to-date.
Sales of jewelry from designers Elsa Peretti, Paloma Picasso and Tiffany & Co. Schlumberger fell 6 percent in the third quarter and 23 percent year-to-date.
Bogliolo highlighted the “noteworthy” performance of T1, its new gold and diamond collection, adding it’s been received well in all markets and channels.
As of Oct. 31, there were 320 Tiffany stores in operation worldwide, including 122 in the Americas, two fewer than a year ago. Tiffany opened 2 stores and closed 8 others so far this year.
Looking to the fourth quarter, the company expects to see “significant” expenses related to its acquisition by LVMH. Total net sales are expected to decline a mid-single-digit percentage.
Tiffany did not hold an earnings call due to its pending acquisition.
More on Financials
The Latest
MajorsNov 18, 2025
Lugano Diamonds Files for Bankruptcy, Looking for BuyerThe Chapter 11 filing follows the resignation of CEO Moti Ferder, who stepped down after an investigation into the company’s finances.
Events & AwardsNov 18, 2025
A Giant, Bejeweled Moldy Berry Is on Display in LAThe artwork is part of an exhibition featuring works by Kathleen Ryan, an artist known for her gemstone-studded rotting fruit sculptures.
Brought to you by
Impacting Tomorrow TodayHow Jewelers of America’s 20 Under 40 are leading to ensure a brighter future for the jewelry industry.
SourcingNov 18, 2025
Another Diamond Company CEO Steps DownMark Wall, president and CEO of Canadian mining company Mountain Province Diamonds, will vacate his position next month.
Weekly QuizNov 13, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CrimeNov 17, 2025
Police Searching for 2 Suspects in Murder of Father, Son Jewelers Faustino Alamo Dominguez and his son, 25-year-old Luis Angel Alamo, were gunned down following an armed robbery at their jewelry store.
GradingNov 17, 2025
IGI Announces New President of North AmericaTiffany & Co. veteran Jeffrey Bennett has stepped into the role.
Brought to you by
Roseco Releases New Full-Line CatalogRoseco’s 704-page catalog showcases new lab-grown diamonds, findings, tools & more—available in print or interactive digital editions.
MajorsNov 17, 2025
Look Inside Robbins Brothers Fine Jewelers’ New Pasadena FlagshipThe showroom is located in a historic 1920s building in the Playhouse District.
Policies & IssuesNov 14, 2025
U.S., Switzerland Reach Deal That Drops Tariff to 15%The Swiss government announced the deal, which cuts the tax on Swiss imports by more than half, on social media Friday morning.
AuctionsNov 14, 2025
Napoleon’s Diamond Brooch Blows Away Auction Estimates A buyer paid $4.4 million for the piece, which Napoleon wore on his hat for special occasions and left behind when he fled Waterloo.
CollectionsNov 14, 2025
Piece of the Week: Silvia Furmanovich’s ‘Butterflies in Flight’ Jewelry BoxFurmanovich designed the box to hold Mellerio’s “Color Queen,” a high jewelry collection consisting of 10 rings.
Events & AwardsNov 14, 2025
JCK Names New Event DirectorJennifer Hopf, who has been with JCK since 2022, will lead the execution of the long-running jewelry trade show.
IndependentsNov 13, 2025
127-Year-Old New Orleans Jeweler to CloseAdler’s Jewelry is set to close its two stores as 82-year-old owner Coleman E. Adler II retires.
IndependentsNov 13, 2025
Green Lake Jewelry Works to Move to New Seattle StudioFounder Jim Tuttle shared how a dedication to craftsmanship and meaningful custom jewelry fueled the retailer’s double-digit growth.
MajorsNov 13, 2025
Vahan Jewelry Founder Leon ‘Sacha’ Der Calousdian Dies at 85The third-generation jeweler is remembered as a passionate creative with a love of art, traveling and sailboat racing.
CrimeNov 12, 2025
Father, Son Jewelers in Chicago Victims in Double Homicide JSA and Cook County Crime Stoppers are both offering rewards for information leading to the arrest of the suspect or suspects involved.
AuctionsNov 12, 2025
‘Mellon Blue’ Diamond Sells for $7M Less Than It Did a Decade AgoA buyer paid $25.6 million for the diamond at Christie’s on Tuesday. In 2014, Sotheby’s sold the same stone for $32.6 million.
AuctionsNov 12, 2025
Historic Rolex Oyster Fetches $1.7M at Sotheby’sMercedes Gleitze famously wore the watch in her 1927 swim across the English Channel, a pivotal credibility moment for the watchmaker.
GradingNov 12, 2025
It’s Time: GIA’s Express Holiday Service Is Back GIA is offering next-day services for natural, colorless diamonds submitted to its labs in New York and Carlsbad.
MajorsNov 10, 2025
Jewelers Focus on Love, Joy In 2025 Holiday Campaigns Tiffany & Co., David Yurman, and Pandora have launched holiday campaigns depicting their jewelry as symbols of affection and happiness.
SurveysNov 10, 2025
5 Things Retailers Should Know About Holiday Shoppers This YearThe National Retail Federation is bullish on the holidays, forecasting retail sales to exceed $1 trillion this year.
AuctionsNov 10, 2025
300+ Colored Diamonds Up for Auction at Christie’sLate collector Eddy Elzas assembled “The Rainbow Collection,” which is offered as a single lot and estimated to fetch up to $3 million.
EditorsNov 07, 2025
Piece of the Week: An MVP’s Sapphire Tennis Necklace At the 2025 World Series, the Los Angeles Dodgers’ Yoshinobu Yamamoto sported a custom necklace made by California retailer Happy Jewelers.
IndependentsNov 07, 2025
Foundrae’s New Palm Beach Location Is a ‘Golden Solarium’The brand’s seventh location combines Foundrae’s symbolic vocabulary with motifs from Florida’s natural surroundings.
SourcingNov 06, 2025
Pink Tourmaline Bracelet, Emerald Suite Take Top Spectrum Honors Pink and purple stones were popular in the AGTA’s design competition this year, as were cameos and ocean themes.
IndependentsNov 06, 2025
Greenwich St. Jewelers Hosts Raffle Supporting Food RescueAll proceeds from the G. St x Jewel Boxing raffle will go to City Harvest, which works to end hunger in New York City.
