AuctionsApr 04, 2025
25-Carat Burmese Sapphire Brooch Sells for $101KA pink topaz Belle Époque pendant-brooch and a Victorian Egyptian Revival choker were also highlights at a recent Anderson & Garland sale.
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
Editors' Picks
Sponsored by
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
SourcingApr 04, 2025
Mason-Kay Jade to Hold Inaugural International Jade SummitThe event, which will co-locate with the Monterey Bay Jade Festival, will bring education sessions focused on jade to the United States.
CollectionsApr 04, 2025
Piece of the Week: Heather B. Moore’s ‘Lily of the Valley’ CharmThe charm is a celebration of springtime as April showers bring May flowers with the piece’s cluster of diamond raindrops.
Brought to you by
The Heart of the Industry: Giving Bench Jewelers the Recognition They DeserveBench jewelers spend years honing their skills, Jewelers of America’s Certification validates their talents.
SurveysApr 03, 2025
2025 Retail Sales to Grow More Slowly Amid ‘Uncertainty,’ Says NRFThe National Retail Federation expects retail sales growth to return to pre-pandemic levels as consumers continue to face inflation.
Weekly QuizApr 03, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
TrendsApr 03, 2025
Tallulah Willis Imbues Antique Engagement Ring With MagicThe 4-carat, old mine brilliant-cut diamond engagement ring was co-designed by Willis and New York City-based brand Karina Noel.
SourcingApr 03, 2025
Canadian Mine Produces 158-Carat Yellow Diamond Rio Tinto unearthed the diamond at its Diavik mine in Canada’s Northwest Territories.
Brought to you by
Natural Diamonds Should Mean MoreNatural diamonds mean more than lab-grown, but when every cut is ideal, they all look the same. Customers want more—Facets of Fire delivers.
CollectionsApr 03, 2025
Buccellati to Open Immersive Exhibition in MilanThe multisensory experience, open April 8-13, will feature the brand’s silver creations among dream-like scenes of natural landscapes.
Policies & IssuesApr 03, 2025
Jewelers of America to Hold Webinar on TariffsThe virtual event will take place April 7 at 3 p.m.
CollectionsApr 02, 2025
Bea Bongiasca’s ‘Tarallo’ Collection Expansion Is a ZooThe pieces in “Animali Tarallo” portray animals from stingrays to elephants through portraits and interpretations of their patterns.
MajorsApr 02, 2025
Neiman Marcus’ Dallas Flagship Will Remain Open, For NowParent company Saks Global said the iconic location will be open through the holiday season as it decides what to do with the space.
SourcingApr 02, 2025
Winston’s Collection of Natural Color Diamonds Now on Display in D.C. Ronald Winston, son of Harry Winston, donated the diamonds to the Smithsonian National Museum of Natural History in Washington, D.C.
Events & AwardsApr 02, 2025
Punchmark to Host Client WorkshopThe educational event will take place in Charlotte, North Carolina, this May.
IndependentsApr 01, 2025
Bergman Jewelers in Omaha Closing After 137 YearsThe independent jeweler first opened its doors in 1888.
MajorsApr 01, 2025
QVC Group to Cut 900 Jobs in the U.S.The layoffs come amid the TV shopping channel’s efforts to restructure and focus on live shopping through social media.
Events & AwardsApr 01, 2025
U.S. Antique Shows Adds Fall Show in FloridaThe debut event will take place in Miami’s Coconut Grove neighborhood this fall.
Events & AwardsApr 01, 2025
TJS to Host Discussion on Jewelry Industry’s Labor ShortageThe roundtable will take place May 17 ahead of the trade show’s welcome dinner.
CollectionsApr 01, 2025
Monica Rich Kosann Says ‘Good Grief’ in Peanuts Jewelry CollectionThe “Peanuts x Monica Rich Kosann” collection features the comic strip’s classic vocabulary across 10 bracelet designs.
Recorded WebinarsMar 31, 2025
Watch: What Do We Mean When We Say ‘Recycled’ Gold?Three industry experts dive into the complexities of the material often marketed as an “ethical” alternative for metal in jewelry.
TrendsMar 31, 2025
Amanda’s Style File: Dripping in DiamondsDiamonds are not only one of the most prominent gemstones, but the birthstone for those born in April.
MajorsMar 31, 2025
Lashbrook Expands Into Luxury Golf Gifts With AcquisitionThe Utah-based company known for making wedding bands has acquired Doubloon Golf.
WatchesMar 31, 2025
Bulgari CEO Jean-Christophe Babin Will Also Head LVMH WatchesThe longtime luxury executive led one of LVMH’s watch brands, TAG Heuer, for 12 years before taking over Bulgari in 2013.
CrimeMar 28, 2025
2 Suspects Arrested in $1.7M Smash-and-Grab Robbery of NY Jewelry StoreAuthorities said the robbers fled with jewelry and 70 Rolex watches, later taking pictures of themselves posing with big stacks of cash.
SourcingMar 28, 2025
19th-Century Jade Book Now Available in EnglishLotus Gemology founder Richard W. Hughes has translated Heinrich Fischer’s 1880 book “Nephrit und Jadeit” from its original German.
CollectionsMar 28, 2025
Piece of the Week: Löf’s ‘The Valentine’ RingThe ring's design features contrasting lines influenced by work from architecture-inspired photographer Nikola Olic.
SurveysMar 27, 2025
Consumer Confidence Falls in March Amid ‘Gloomy’ OutlookThe Conference Board’s index fell as consumers continued to worry about the impact of tariffs, the labor market, and the price of eggs.
