MajorsJul 18, 2025
Lewis Heyman on Sourcing Gemstones, Post-Retirement PlansHe retired last month after 28 years traveling the world to source the very best gemstones for his family’s jewelry business, Oscar Heyman.
FinancialsMar 17, 2017
Tiffany & Co. Q4 Comps Down 2% in Americas
Total sales in the region also were down 3 percent as spending in the U.S. remains soft.
Tiffany & Co. said that comps in the Americas were down in the fourth quarter due to a continued softness in spending by U.S. customers.
New York--Tiffany and Co. reported Friday that comps and sales were both down in the Americas in its fiscal fourth quarter as spending in the U.S. remained soft.
In the Americas region, comps were down 2 percent and total sales were down 3 percent to $587 million in the fourth quarter ended Jan. 31. For the full year, comps were down 6 percent while net sales declined 5 percent to $1.8 billion in the full year.
The company said it saw softness across the U.S. last year and attributed the decline to lower spending by U.S. customers and foreign tourists.
Tiffany & Co. also continued to report on the impact of post-election activities to traffic to its flagship store on Fifth Avenue in New York, reporting that sales were down 7 percent in the fourth quarter there. This is an improvement on the 14 percent decrease for the location in the November-December period alone, though management attributed this improvement to some large transactions at the store in January.
Meanwhile, sales at the flagship were down 11 percent in the full year.
Globally, comps for the company were flat in the fourth quarter while net sales increased 1 percent to $1.2 billion. For the full-year, worldwide same-store sales were down 5 percent and net sales declined 3 percent to $4 billion.
In its earnings conference call Friday morning, Mike Kowalski, who took the position as interim CEO last month after Frederic Cumenal stepped down from the position, called the jeweler’s sales results “disappointing.”
To help it get back to growth and positive results, the company said it intends to accelerate the pace of new product development and innovation going forward, with which they believe newly appointed Chief Artistic Officer Reed Krakoff will be able to help.
Lately, it has been seeing success with its fashion jewelry category, which is attributed in part to higher gold jewelry sales and the success of the T collection.
Tiffany also noted growth in its silver jewelry category, with sales “approaching stabilization” after years of decline, executives reported on the call, as well as an increased performance in the under-$500 category, on which Tiffany will continue to focus in the future.
The softest categories were high, fine and solitaire jewelry--though the company reports it is doing well with the Victoria platinum and diamond collection--as spending remains light at the high end of the category.
In
Europe, comps were down 9 percent in the quarter and 14 percent in the full year, while sales were down 7 percent to $146 million in the quarter and down 10 percent to $458 million during the year.
In Asia-Pacific, meanwhile, comps were down 2 percent in the three-month period and 9 percent in the 12-month period, while total sales of $284 million in the fourth quarter were 9 percent above the prior-year period and total sales of $1 billion in the full year were about flat.
In Japan, same-store sales increased 19 percent in the quarter and 16 percent in the full year, while total sales in the fourth period were up 15 percent to $185 million and net sales in the full year rose 12 percent to $604 million.
Tiffany opened 11 company-operated stores during the full year and closed five locations, which, when combined with the relocation of five stores, resulted in a net increase in gross retail square footage of approximately 3 percent for the retailer.
As of Jan. 31, Tiffany & Co. operated 313 stores: 125 in the Americas, 85 in Asia-Pacific, 55 in Japan, 43 in Europe and five in the UAE. This is compared with 307 stores a year ago: 124 in the Americas, 81 in Asia-Pacific, 56 in Japan, 41 in Europe and five in the UAE.
In Asia-Pacific, meanwhile, comps were down 2 percent in the three-month period and 9 percent in the 12-month period, while total sales of $284 million in the fourth quarter were 9 percent above the prior-year period and total sales of $1 billion in the full year were about flat.
In Japan, same-store sales increased 19 percent in the quarter and 16 percent in the full year, while total sales in the fourth period were up 15 percent to $185 million and net sales in the full year rose 12 percent to $604 million.
Tiffany opened 11 company-operated stores during the full year and closed five locations, which, when combined with the relocation of five stores, resulted in a net increase in gross retail square footage of approximately 3 percent for the retailer.
As of Jan. 31, Tiffany & Co. operated 313 stores: 125 in the Americas, 85 in Asia-Pacific, 55 in Japan, 43 in Europe and five in the UAE. This is compared with 307 stores a year ago: 124 in the Americas, 81 in Asia-Pacific, 56 in Japan, 41 in Europe and five in the UAE.
More on Financials
The Latest
TrendsJul 18, 2025
Piece of the Week: CCWW Designs’ Shell Charm NecklaceThe charm necklace features six nautical charms of shells and coral that founder Christina Puchi collected on Florida’s beaches.
MajorsJul 18, 2025
Plumb Club Elects New Board MembersThe organization elected its youngest vice president as it looks to draw in fresh talent.
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.
TechnologyJul 18, 2025
Brad Campbell, John Liebler Join Clientbook’s Executive Team Campbell joins the company as vice president of business development while Liebler is the new vice president of operations.
Weekly QuizJul 17, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsJul 17, 2025
2026 Winter Olympic Medal Design Symbolizes UnityThe medals feature a split-texture design highlighting the Games’ first time being hosted by two cities and the athletes’ journeys.
Supplier BulletinJul 17, 2025
The INSTORE Jewelry Show 2025: Your Holiday Preparations, All Wrapped Up! Sponsored by The INSTORE Jewelry Show 2025
Brought to you by
Jewelers of America is Headed to Las Vegas for JCK 2025The countdown is on for the JCK Las Vegas Show and JA is pulling out all the stops.
SurveysJul 17, 2025
The Most Recommended Brands in the World, According to YouGovGlobally, travel and transportation brands reigned, while in the U.S., alcoholic beverage companies and a lingerie brand took the top spots.
IndependentsJul 17, 2025
Gina Ferranti of GiGi Ferranti Jewelry Dies at 59The Brooklyn-based jewelry designer is remembered as a true artist and a rare talent.
SourcingJul 17, 2025
Rio Tinto Names New CEO, Production Rises at DiavikProduction at the mine in Canada’s Northwest Territories topped 1 million carats in Q2, the third consecutive quarter of growth.
Events & AwardsJul 17, 2025
JA to Hold Learning Workshops This FallA new slate of Learning Workshops will take place in Oklahoma, Mississippi, and Georgia.
SurveysJul 16, 2025
Signet Jewelers Falls Lower on NRF’s ‘Top 100’ Retailers ListThe middle class is changing its approach to buying jewelry and affordable luxury goods, the NRF said.
WatchesJul 16, 2025
The Top-Selling Rolex Models of the Last 15 Years, According to Bob’s Watches The reseller’s market trends report, based on its sales data, also shows exactly how much Rolex prices have jumped since 2010.
AuctionsJul 16, 2025
Christie’s To Honor Dinh Van With ExhibitionThe auction house will be hosting a retrospective paying tribute to jeweler Jean Dinh Van and his company’s 60th anniversary.
IndependentsJul 16, 2025
Clyde Duneier Ushers In Fourth GenerationJake Duneier and Danielle Duneier-Goldberg have stepped into the roles of CEO and president, respectively.
CollectionsJul 15, 2025
Boucheron’s New High Jewelry Calls Attention to Nature’s ImpermanenceThe “Impermanence” collection contemplates nature through the Japanese art of Ikebana (flower arranging) and philosophy of wabi-sabi.
MajorsJul 15, 2025
James Avery Expands to 2 More StatesThe Texas-based jewelry retailer has set up shop in Tennessee and Arizona.
Events & AwardsJul 15, 2025
Neiman Marcus Vet Joins Couture as Brand Director Eric Ford will step into the role, bringing with him decades of experience.
MajorsJul 15, 2025
Ben Bridge Jeweler Acquires Olympic ManufacturingIn addition to improved capabilities, the acquisition will allow the jeweler to offer support to other independent jewelers.
CollectionsJul 15, 2025
Guzema Debuts First Colored Gemstone JewelryThe “Celestial Blue” capsule collection campaign features Olympian Kateryna Sadurska.
MajorsJul 14, 2025
Nanis Opens First StoreThe seasonal store, located in Mykonos, Greece, offers exclusive events, personal styling, and curated experiences.
IndependentsJul 14, 2025
It’s the Summer of Love at Long’s JewelersThe New England jeweler is hosting a bridal event for the month of August.
SourcingJul 14, 2025
Ethical Gem Fair Heads to SeattleThe trade-only event will host its debut fair in the Emerald City later this month.
Events & AwardsJul 11, 2025
The Edge’s Annual Conference Returns in SeptemberIts sessions will focus on inventory strategies, staff performance, retention and acquisition, emerging market trends, and more.
CollectionsJul 11, 2025
Piece of the Week: Miseno’s ‘Arco’ EarringsFor its 10th anniversary, Miseno designed the “Arco” earrings based on the Arco Felice, an arch conceptualized in A.D. 95 in Miseno, Italy.
Policies & IssuesJul 11, 2025
James Avery to Donate $1M to Texas Hill Country Relief EffortsThe jewelry company is one of several contributing to relief efforts in the region after the recent floods.
