SourcingOct 03, 2025
Grading Lab HRD Antwerp Names New CEODiamond industry banking veteran Paul De Wachter will take on the role in January 2026.
FinancialsMay 24, 2017
Tiffany’s US Sales Soft in Q1
Spending by both foreign tourists and local customers was down, with comps in the Americas region as a whole sliding 4 percent.
This picture provided by Tiffany & Co. shows the company’s store on Wall Street in New York City. Global comps fell 3 percent for the jeweler in the first quarter, with same-store sales in the Americas sliding 4 percent.
New York--Tiffany & Co. reported Wednesday that while U.S. sales varied by location in the first quarter, they were “generally soft” with both foreign tourists and local customers spending less.
In the first quarter ended April 30, the New York-based retailer recorded a 4 percent decline in same-store sales in the Americas, with net sales down 3 percent to $392 million.
The retailer did not say anything specific about the first quarter performance of its flagship store in New York after reporting a difficult fourth quarter for the location in the wake of increased security at its neighbor, Trump Tower.
Worldwide, comps sank 3 percent while net sales grew 1 percent to $900 million on the back of growth in wholesale diamond sales and in the Asia-Pacific market, Tiffany’s second largest market. Much of that growth was concentrated in mainland China.
On a constant-exchange-rate basis, same-store sales were down 2 percent while net sales rose 2 percent.
Sales of fashion jewelry--particularly gold pieces in the Tiffany “T” collection--were strong while engagement rings underperformed and high jewelry sales were mixed.
During the company’s earnings call on Wednesday morning, Chief Financial Officer Mark Erceg said the retailer is not focused on “macroeconomic factors we cannot directly influence” but, rather, a set of strategies, which also were outlined by interim CEO Michael Kowalski during the call.
They are: clienteling and CRM (customer relations management) to more effectively engage with customers; adding more new products at a faster pace; optimizing the store network through openings, renovations and, in some cases, store closings; and enhancing brand awareness through effective marketing.
Tiffany’s net earnings in the first quarter totaled $92.9 million, compared with $87.5 million in the same period last year.
Gross margin rose from 61.2 percent to 62 percent due to sales of higher-margin fashion jewelry, partly offset by increased wholesale sales of diamonds.
Tiffany did not open any company-operated stores in the first quarter but closed three.
As of April 30, Tiffany had 310 stores worldwide, including 124 in the Americas. A year ago, the retailer had 308 stores, including 124 in the Americas.
The company completed the renovation of its store on San Francisco’s Union Square in the first quarter and reopened its newly renovated store on Burrard Street in Vancouver.
Tiffany’s guidance for the full fiscal year remains unchanged; the retailer expects a low single-digit increase in sales.
This fall, the
More on Financials
The Latest
TrendsOct 03, 2025
Piece of the Week: Kallati’s Pink Sapphire RingTaylor Swift flaunts an Elizabeth Taylor-esque gemstone in promo for her new album, “The Life of a Showgirl.”
CollectionsOct 02, 2025
Boucheron Debuts Cuffs Crafted With 3D-Printed SandIts “Quantre Sand” capsule was made using a 3D sand printing technique borrowed from the automotive and aeronautics industries.
CrimeOct 02, 2025
$1M in Jewelry Stolen in Northern California Smash and Grab Four individuals have been charged in the “takeover-style” robbery of Heller Jewelers last month, and additional charges are expected.
Weekly QuizOct 02, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
MajorsOct 02, 2025
Neil Lane Jewelry Exhibition Coming to Toledo Museum of Art“Radiance and Reverie” will showcase more than 150 jewels from Lane’s personal collection by Tiffany & Co., Cartier, and more.
TrendsOct 02, 2025
Amanda’s Style File: October’s Colorful ShowThe month’s birthstones, tourmaline and opal, complement the palette of autumn.
Brought to you by
reDollar.com Is Rolling Out the Next Level Jewelry, Diamond & Watch Consignment ProgramWith their unmatched services and low fees, reDollar.com is challenging some big names in the online consignment world.
ColumnistsOct 01, 2025
Peter Smith: Why Vendor Success Starts With Self-ReflectionSmith shares the importance of looking at your company with openness and honesty to identify opportunities you may be missing.
EditorsOct 01, 2025
Playing Favorites: The Best Jewelry From VicenzaoroAssociate Editor Natalie Francisco visited Italy to spot jewelry trends at the September Vicenzaoro show and share her top finds.
SurveysOct 01, 2025
Consumer Confidence Hits 5-Month Low in September Respondents were concerned about job availability and rising prices.
SourcingOct 01, 2025
Gemfields’ H1 Revenue Falls 47%Its latest interim financials revealed a challenging first half due in part to production troubles at its mines.
MajorsSep 30, 2025
Pandora CEO to Retire in 2026, Hand Reins to CMO Alexander Lacik has led Pandora since 2019. Berta de Pablos-Barbier will succeed him, the first woman to head the company.
CrimeSep 30, 2025
2 Suspects Charged in $300K Sleight-of-Hand Jewelry Store ScamTwo men allegedly used counterfeit bills to purchase luxury watches and jewelry from a North Carolina jeweler.
CollectionsSep 30, 2025
Billie Eilish, Finneas Partner with John HardyThe “Lovestruck” collection, designed with the Academy and Grammy award-winning siblings, is the brand’s first lab-grown diamond offering.
IndependentsSep 30, 2025
Spinelli Kilcollin Announces Residency in DallasThe brand, celebrating its 15th anniversary, has popped up at Market, a luxury fashion destination in Highland Park Village.
IndependentsSep 29, 2025
Nina Pugliese, Longtime Henne Jewelers Employee, Dies at 65She was remembered as a creative and generous woman of faith, who also had a sweet tooth.
TrendsSep 29, 2025
Amanda’s Style File: Ear FocusMove over neck mess, the ear story is the way to make a layering statement today.
IndependentsSep 29, 2025
Mark Henry Jewelry to Debut in CanadaThe New York-based brand is set to launch a limited-time offering for the holiday season at Holt Renfrew in Toronto.
MajorsSep 29, 2025
Overnight Releases New Bridal CatalogThe “Volume 7” bridal catalog features best-selling engagement rings, trending styles, and a new section highlighting anniversary bands.
SurveysSep 26, 2025
Online Shopping, Influencers to Drive Holiday Spending, Mastercard SaysHoliday sales growth is expected to slow as consumers grapple with inflation and tariff-related uncertainty.
Events & AwardsSep 26, 2025
Winners of Austin Jewelry Design Contest Announced Jamie Turner Designs is among the winners of the local “Austin Shines” contest, hosted by Eliza Page, a jewelry store in Austin, Texas.
TrendsSep 26, 2025
Piece of the Week: Kwit Jewelry’s Square Signet Pinky RingThe red and azure colorway is one of many fun enamel pairings offered, bringing whimsy to the classic style of a monogramed signet ring.
Policies & IssuesSep 25, 2025
JA CEO Provides Tariff Update Following Annual Fly-InA trade deal with Switzerland seems probable, but reaching an agreement with India remains a challenge, David Bonaparte said.
SourcingSep 25, 2025
2 African Countries Aim to Take Stake in De Beers Botswana’s president said his country wants a controlling share, while Angola envisions multiple countries holding minority stakes.
Lab-GrownSep 25, 2025
Kira Jewels Expands Lab-Grown Diamond ProductionThe manufacturer is adding 1,400 chemical vapor deposition (CVD) reactors to its growing facility in India.
IndependentsSep 25, 2025
Alex Moss’ New Flagship Brings Bold Jewels to SoHoThe jeweler to the stars has worked with Drake, A$AP Rocky, Tyler the Creator, and other celebrities.
