CrimeJul 23, 2025
JSA Warns of Violent String of Smash-and-Grabs in California JSA has received reports of mobs swarming jewelry stores, driving cars into the storefront or smashing through the windows.
FinancialsNov 29, 2017
Tiffany Sees Americas Comps Rise 1% in Q3
Total sales in the region also were up 1 percent, bolstered by a strong performance from the fashion jewelry segment.
Tiffany said in its third quarter earnings call that it believes consumers will continue to be attracted to the in-store experience. The retailer recently opened the Blue Box Café at its Fifth Avenue flagship, pictured here, when it renovated the store’s fourth floor.
New York--Strong sales in the fashion jewelry and high, fine and solitaire segments helped turn around business for Tiffany & Co. in its third quarter.
Same-store sales in the Americas were up 1 percent in the period ended Oct. 31, while total sales in the region reached $421 million in the third quarter, a 1 percent increase over the prior year.
On a constant-exchange-rate basis, total sales rose 1 percent in the third quarter, with comparable store sales about flat.
The jeweler attributed the sales performance to higher spending by local customers, even as sales to foreign tourists continued to slow. Tiffany noted an increase in the number of jewelry units sold across all categories in the Americas, with the exception of engagement jewelry.
Worldwide, meanwhile, comps were down 1 percent year-over-year, while sales increased 3 percent to $976 million.
On a constant-exchange-rate basis, global sales increased 3 percent and comparable store sales were equal to the prior year.
Net earnings for the quarter increased 5 percent from $95 million in the third quarter last year to $100 million. Gross margin was nearly flat at 61 percent.
Mark Aaron, vice president of investor relations, said during the company’s earnings call Wednesday morning that it was encouraged by the growth of higher jewelry sales volume rather than ticket prices.
He also noted they saw continued growth in fashion jewelry and resumption of growth in high, fine and solitaire jewelry, led by iconic diamond jewelry designs, especially the popular Victoria, yellow diamonds and Soleste collections.
This was offset by sales of engagement jewelry, which continued to “underperform.”
In response to the trend of consumers wanting to customize their rings, Tiffany has introduced a program in the United States and Canada that allows them to choose their own diamond cut, setting and metal.
Meanwhile, the company’s e-commerce sales grew more than overall sales during the quarter, but Aaron noted that, while it will continue to invest in online and digital marketing, Tiffany believes most customers “still are and will continue to be attracted to the in-store experience.”
Most recently, Tiffany’s Fifth Avenue flagship in New York has seen a lot of activity, including the reopening of its just-revamped fourth floor, which is home to accessories and tableware collection. It also now houses the Blue Box Café, which, Aaron said, based on long lines every day, is “fast becoming a New York tradition.”
Tiffany also recently
opened two pop-up shops in New York City--in Rockefeller Center and Grand Central Terminal--offering a selection of jewelry and gifts curated by Creative Director Reed Krakoff. Aaron said the company is “excited about the sales potential and brand exposure from those two shops.”
Globally, the company saw mixed results in its sales performances during the most recent quarter.
In Asia-Pacific, total sales rose 15 percent to $283 million in the third quarter while comps were up 2 percent. Tiffany said the sales growth in the region resulted from increased wholesale and retail sales.
In Japan, meanwhile, total sales of $139 million in the third quarter were down 8 percent compared with the prior-year period. Same-store sales also were down 8 percent during the three-month period. According to Tiffany, the sales decline reflected the negative effect of a weaker yen versus the dollar.
Total sales in Europe were up increased 5 percent in the third quarter to $110 million, while comps were down 3 percent. The retailer noted total retail sales growth across most of continental Europe, with a decline in sales in the U.K.
Year-to-date, Tiffany has opened seven company-operated stores and closed five.
As of the end of October, it operated 315 stores (125 in the Americas, 86 in Asia-Pacific, 54 in Japan, 46 in Europe and four in the UAE), compared with 313 stores in the prior year (125 in the Americas, 85 in Asia-Pacific, 55 in Japan, 43 in Europe and five in the UAE).
Tiffany management said it expects worldwide net sales for fiscal 2017 to be up over the prior year by a low-single-digit percentage.
Globally, the company saw mixed results in its sales performances during the most recent quarter.
In Asia-Pacific, total sales rose 15 percent to $283 million in the third quarter while comps were up 2 percent. Tiffany said the sales growth in the region resulted from increased wholesale and retail sales.
In Japan, meanwhile, total sales of $139 million in the third quarter were down 8 percent compared with the prior-year period. Same-store sales also were down 8 percent during the three-month period. According to Tiffany, the sales decline reflected the negative effect of a weaker yen versus the dollar.
Total sales in Europe were up increased 5 percent in the third quarter to $110 million, while comps were down 3 percent. The retailer noted total retail sales growth across most of continental Europe, with a decline in sales in the U.K.
Year-to-date, Tiffany has opened seven company-operated stores and closed five.
As of the end of October, it operated 315 stores (125 in the Americas, 86 in Asia-Pacific, 54 in Japan, 46 in Europe and four in the UAE), compared with 313 stores in the prior year (125 in the Americas, 85 in Asia-Pacific, 55 in Japan, 43 in Europe and five in the UAE).
Tiffany management said it expects worldwide net sales for fiscal 2017 to be up over the prior year by a low-single-digit percentage.
More on Financials
The Latest
CollectionsJul 23, 2025
Silvia Furmanovich’s ‘Kashmir’ Collection Is a Tribute to Northern IndiaThe “Kashmir” collection features centuries-old craft techniques made in collaboration with the region’s master papier-mâché artisans.
IndependentsJul 23, 2025
Montreal’s Ecksand Eyes Move to SoHoCreative Director Erica Bianchini shared why the jeweler is looking to expand into the U.S. and how it’s putting Canadian craftsmanship on the map.
Brought to you by
Taking the Moment Head On: How Rio Grande Champions the Present & Future of Fine JewelryAs a leading global jewelry supplier, Rio Grande is rapidly expanding and developing new solutions to meet the needs of jewelers worldwide.
IndependentsJul 23, 2025
IJO Raises Nearly $37K for LA Fire Relief Two Los Angeles Fire Department stations plan to use the donations to upgrade their equipment and tools.
Weekly QuizJul 17, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsJul 22, 2025
Jewelry With a Rock ‘n’ Roll Aesthetic Heads to Sotheby’s LondonNext week, the auction house will kick off a selling exhibition of jewelry by British artist Hannah Martin and Coldplay’s Guy Berryman.
SourcingJul 22, 2025
Antwerp Diamond Heist Documentary Coming to Netflix“Stolen: Heist of the Century” is based on “Flawless,” the book about the middle-of-the-night theft, and will debut on Netflix in August.
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.
ColumnistsJul 22, 2025
The Gifting Gap: How to Market Jewelry Beyond the HolidaysEmmanuel Raheb shares the top five gifting moments outside of major holidays that jewelers should build marketing campaigns around.
Events & AwardsJul 22, 2025
NY Now’s Summer Market Returns in AugustThe wholesale trade show’s Luxury Lifestyle section will showcase established and emerging jewelry designers.
MajorsJul 21, 2025
Rio Grande Expands Personalization OfferingsAs demand for custom jewelry grows, the company is expanding its services to support retailers.
Events & AwardsJul 21, 2025
NAJA’s 2025 ‘Ace It’ Conference To Go VirtualThe mid-year conference for jewelry and watch appraisers is slated for Aug. 9 to 10 on Zoom.
TrendsJul 21, 2025
Amanda’s Style File: Graduated With Honors Graduated stones make for elevated tennis-style pieces and dramatic statement necklaces.
Events & AwardsJul 21, 2025
Gem Awards Now Accepting Nominations for 2026Nominations in the categories of Jewelry Design, Media Excellence, and Retail Innovation will be accepted through July 30.
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.
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.
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.
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
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.
