CollectionsApr 25, 2025
Sylvie Looks to Water in New Sculptural Bridal Collection“Shell Auranova” is the next generation of the brand’s bridal line, featuring half-bezel engagement rings with bold and fluid designs.
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
EditorsApr 25, 2025
Piece of the Week: Deborah Meyers Experience’s ‘The Birds’ EarringsDesigner Deborah Meyers created her birds from oxidized sterling silver, rose-cut diamond eyes, and Akoya Keshi pearl feathers.
SourcingApr 25, 2025
De Beers Sales, Production Fall in Q1 Amid UncertaintyThe company said it expects sightholders to remain “cautious” with their purchasing due to all the unknowns around the U.S. tariffs.
Brought to you by
Emerging Jewelers Accelerator Program Announces Second Cohort of Aspiring Jewelry Entrepreneurs Six new retail businesses were selected for the 2025 program, which began in January.
Supplier BulletinApr 24, 2025
Protect Your Customers and Your BusinessSponsored by the Gemological Institute of America
Weekly QuizApr 24, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
EditorsApr 24, 2025
Q&A: Wolf’s CEO Talks U.S. ExpansionSimon Wolf shares why the time was right to open a new office here, what he looks for in a retail partner, and why he loves U.S. consumers.
IndependentsApr 24, 2025
Longtime Iowa Jeweler Herman Ginsberg Dies at 99 A third-generation jeweler, Ginsberg worked at his family’s store, Ginsberg Jewelers, from 1948 until his retirement in 2019.
Brought to you by
Protect Your Customers and Your BusinessThe risk of laboratory-grown diamonds being falsely presented as natural diamonds presents a very significant danger to consumer trust.
SourcingApr 24, 2025
Young Diamantaires Transition to NonprofitThe organization also announced its board of directors.
TrendsApr 24, 2025
Amanda’s Style File: So CharmingCharms may be tiny but with their small size comes endless layering possibilities, from bracelets to necklaces and earrings.
MajorsApr 23, 2025
Bulgari Doubles Size of Jewelry Factory in ItalyLocated in Valenza, the now 355,000-square-foot facility includes a new jewelry school that’s open to the public, Scuola Bulgari.
Events & AwardsApr 23, 2025
PDPaola Creative Director Wins FGI’s ‘Rising Star’ AwardPaola Sasplugas, co-founder of the Barcelona-based jewelry brand, received the Fine Jewelry Award.
AuctionsApr 23, 2025
Rare Custom Rolex Daytona Heads to AuctionA platinum Zenith-powered Daytona commissioned in the late ‘90s will headline Sotheby’s Important Watches sale in Geneva next month.
MajorsApr 23, 2025
David Yurman’s New Campaign Stars Carmelo Anthony, Jaylen BrownThe basketball stars wear men’s jewelry from the “Curb Chain” collection.
MajorsApr 22, 2025
Zales’ Rebrand Takes Playful Approach to Fine JewelryThe Signet Jewelers-owned retailer wants to encourage younger shoppers to wear fine jewelry every day, not just on special occasions.
AuctionsApr 22, 2025
Christie’s to Auction JAR Jewelry CollectionThe 21 pieces, all from a private collector, will be offered at its Magnificent Jewels auction next month.
ColumnistsApr 22, 2025
The PR Adviser: Building Buzz Through Word of MouthLilian Raji answers a question from a reader who is looking to grow her jewelry business but has a limited marketing budget.
GradingApr 22, 2025
Avi Levy Is GCAL By Sarine’s New Chief Growth OfficerGCAL by Sarine created the new role to sharpen the company’s focus on strategic partnerships and scalable expansion.
IndependentsApr 22, 2025
Brinker’s Jewelers Acquires Fellow IndependentThe Indiana jeweler has acquired Scottsdale Fine Jewelers in Scottsdale, Arizona.
Events & AwardsApr 21, 2025
An Exhibition Exploring the History of Cartier Is Now on Display“Cartier: Design, Craft, and Legacy” opened earlier this month at the Victoria and Albert Museum in London.
IndependentsApr 21, 2025
New York Jeweler to Close After 111 YearsVan Cott Jewelers in Vestal, New York, is hosting a going-out-of-business sale.
IndependentsApr 21, 2025
IJO Names New Director of Vendor Relations, Merchandise StrategyIndustry veteran Samantha Larson has held leadership roles at Borsheims, McTeigue & McClelland, Stuller, and Long’s Jewelers.
Events & AwardsApr 21, 2025
Jewelers of Louisiana, Mississippi Jewelers Association to Co-Host ConventionThe two organizations will hold the educational event together this fall in Mississippi.
Events & AwardsApr 18, 2025
Daymond John to Give Keynote at JCK Las VegasThe entrepreneur and “Shark Tank” star will share his top tips for success.
CollectionsApr 18, 2025
Piece of the Week: Dukachi’s ‘Easter Bread’ PendantThe Ukrainian brand’s new pendant is modeled after a traditional paska, a pastry often baked for Easter in Eastern European cultures.
IndependentsApr 18, 2025
Bremer Jewelry to Reveal Renovated StoreThe jeweler has announced a grand reopening for its recently remodeled location in Peoria, Illinois.
MajorsApr 18, 2025
Tiffany & Co. Employees Star in Mother’s Day CampaignThe “Strong Like Mom” campaign features moms who work at Tiffany & Co. and their children.
