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.
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
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.
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.
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.
Weekly QuizNov 06, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
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.
Brought to you by
Jewelers of America Aligns New Mission to Create Meaningful Impact for MembersFrom educational programs, advocacy, and recent MJSA affiliation, Jewelers of America drives progress that elevates businesses of all sizes.
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.
IndependentsNov 06, 2025
Cornell’s Jewelers Names New PresidentCourtney Cornell is part of the third generation to lead the Rochester, New York-based jeweler.
SourcingNov 06, 2025
De Beers’ Production, Sales Increase in Q3 De Beers also announced more changes in its upper ranks ahead of parent company Anglo American’s pending sale of the company.
WatchesNov 05, 2025
Shinola President Steps Down Just as He Starts Former Signet CEO Mark Light will remain president of Shinola until a replacement for Ulrich Wohn is found.
AuctionsNov 05, 2025
Taylor Swift’s Engagement Ring Designer Makes Her Auction DebutKindred Lubeck of Artifex has three rings she designed with Anup Jogani in Sotheby’s upcoming Gem Drop sale.
FinancialsNov 05, 2025
Brilliant Earth’s Q3 Sales Climb 10%The jewelry retailer raised its full-year guidance, with CFO Jeff Kuo describing the company as “very well positioned” for the holidays.
Policies & IssuesNov 04, 2025
Supreme Court to Hear Tariffs Case WednesdayAhead of the hearing, two industry organizations co-signed an amicus brief urging the court to declare Trump’s tariffs unlawful.
MajorsNov 04, 2025
Danny Clark to Become Stuller CEO, Succeeding Matt StullerStuller COO Belit Myers will take on the additional role of president, with all changes effective at the start of 2026.
ColumnistsNov 04, 2025
Peter Smith: What Do Birds Have to Do With the Price of Gold? Smith cautions retailers against expending too much energy on things they can’t control, like the rising price of gold.
TrendsNov 04, 2025
Amanda’s Style File: Fall Colors for November BirthdaysCitrine and topaz are birthstones fit for fall as the leaves change color and the holiday season approaches.
IndependentsNov 04, 2025
Weston Jewelers Heads to Fort LauderdaleThe family-owned jeweler will open its fourth store in Florida in late 2027.
CrimeNov 03, 2025
Men Dressed as Construction Workers Burglarize Jeweler’s Home The NYPD is looking for three men who stole a safe and jewelry valued at $3.2 million from the home of a jeweler in Jamaica Hills, Queens.
MajorsNov 03, 2025
Matthew Rosenheim Takes Over as JA Board ChairThe trade organization also announced its executive committee and five new directors.
CollectionsNov 03, 2025
Muse’s ‘Have a Heart’ Collab Returns, Now With DDGThe “Have a Heart x Diamonds Do Good” collection is championed by model and humanitarian Flaviana Matata and will benefit her foundation.
AuctionsNov 03, 2025
Kashmir Sapphire Ring Tops Christie's Online AuctionThe ring, set with a nearly 17-carat Kashmir cabochon sapphire, sold for $1 million.
TrendsOct 31, 2025
Piece of the Week: A Spinner Fit for ‘Frankenstein’This “Mother Father” spinner necklace from Heavenly Vices Fine Jewelry draws inspiration from Victorian Era jewelry.
CrimeOct 31, 2025
5 More Arrested in Louvre Heist, Jewelry Still Missing The suspects were rounded up in Paris and its suburbs on Wednesday night, but none of the stolen jewels were recovered with them.
Recorded WebinarsOct 31, 2025
Watch: How to Master Google Reviews for Your BusinessExperts share top tips on how to encourage positive reviews and handle negative feedback.
Supplier BulletinOct 30, 2025
Protect Your Customers and Your BusinessSponsored by the Gemological Institute of America
