Rocksbox President Allison Vigil shared the retailer’s expansion plans, and her thoughts on opening stores in malls.
Tiffany’s Sales in the Americas Are Up 8% So Far This Year
And CEO Alessandro Bogliolo teased the introduction of what the company describes as an “innovative diamond ring concept.”

New York—Tiffany & Co.’s turnaround plan seems to be working.
On Tuesday, the New York-based retailer reported better-than-expected second quarter and first half results, and raised its guidance for the full year.
In the Americas region (United States, Canada, Mexico, Brazil and Chile), total net sales rose 8 percent in both the first half and second quarter, with same-store sales rising 9 percent and 8 percent, respectively. (Percentage increases were the same on a constant-exchange-rate basis.)
Sales rose across most of the region, Tiffany said, with spending by local customers—not tourists—accounting for the increase.
Worldwide, net sales increased 12 percent (11 percent on a constant-exchange-rate basis) to $1.1 billion in the second quarter, with same-store sales rising 8 percent (7 percent on a constant-exchange-rate basis).
Meanwhile, first-half total sales were up 13 percent (11 percent on a constant-exchange-rate basis) to $2.1 billion and comps rose 9 percent (7 percent on a constant-exchange-rate basis).
Net earnings increased 26 percent year-over-year in the second quarter and 38 percent in the first half of the year.
Gross margin improved from 62.5 percent to 64 percent in the second quarter, and from 62.3 percent to 63.5 percent in the first half.
In the company news release announcing the results, CEO Alessandro Bogliolo teased the introduction of what he called an “innovative diamond ring concept,” Tiffany True, in North America in the second half of the year, along with a special focus on product personalization, high jewelry and a “whimsical holiday campaign.”
He also said: “While in the early stages of addressing our six key strategic priorities, we are pleased with initial customer reaction to our new communication, product and in-store initiatives. The launch of ‘Paper Flowers’ … is moving toward full global distribution, and we believe our evolved brand message is gaining momentum.”
The retailer backed the launch of Paper Flowers with a new marketing campaign, “Believe in Dreams,” which involved painting the town its signature robin’s egg blue, covering New York City icons like taxi cabs and subway stations in the cool tone.
Paper Flowers is the first new major collection since Tiffany Keys in 2009 and the first designed under Reed Krakoff.
It helped propel the company’s in-house jewelry lines to become the top performer of 2018 so far, with Tiffany Jewelry Collections outselling both engagement rings and designer lines from Paloma Picasso and Elsa Peretti.
Looking ahead to the remainder of 2018, the retailer
Tiffany now forecasts sales will rise by a high-single-digit percentage over last year, though it does expect operating margin to sink due to significant selling, general and administrative expense growth, which includes the money it is spending to renovate its Fifth Avenue flagship and increased investments in marketing and technology.
“We believe that the thoughtful combination of making short- and long-range strategic investments is necessary to achieve the full growth potential of this legendary brand,” Bogliolo said.
Tiffany ended the second quarter with 320 stores worldwide, up from 312 a year ago.
Its store count in the Americas remained largely flat year-over-year: 123 as of July 31 compared with 124 at the same point last year.
The Latest

The creator of the WJA Chicago chapter is remembered as a champion for women in the jewelry industry and a loving grandmother.

The decline was consistent across age groups and almost all income groups, with tariffs and inflation still top of mind.

The Seymour & Evelyn Holtzman Bench Scholarship from Jewelers of America returns for a second year.

The “Playlist: Electric Dreams” collection brings lyrics from the musician’s song, “Little Wing,” to life through fine jewelry.


The event is set for May 16-19 in Detroit, Michigan.

The Vault’s Katherine Jetter is accusing the retailer of using info she shared for a potential partnership to move into Nantucket.

The countdown is on for the JCK Las Vegas Show and JA is pulling out all the stops.

Agents seized 2,193 pieces, a mix of counterfeit Cartier “Love” and “Juste Un Clou” bracelets, and Van Cleef & Arpels’ “Alhambra” design.

The designer brought her children’s book, “The Big Splash Circus,” to life through a collection of playful fine jewelry characters.

The trade association has chosen the recipients of the funding initiative it formed to foster the growth and sustainability of the industry.

The organization has also announced this year’s slate of judges.

Associate Editor Natalie Francisco shares 20 additional pieces that stood out to her at the Couture show.

Lori Tucker started at Williams Jewelers when she was 18 years old.

The “Marvel | Citizen Zenshin” watch is crafted in Super Titanium and has subtle nods to all four “Fantastic Four” superheroes on the dial.

The “XO Tacori” collection was designed to blend luxury and accessible pricing.

Pritesh Patel, the lab’s chief operating officer, will take over as president and CEO of GIA.

National Jeweler and Jewelers of America discuss the standout jewelry trends and biggest news to emerge from the shows this year.

Signatories to the “Luanda Accord” committed to allocating 1 percent of annual diamond revenue to the Natural Diamond Council.

The winning designs captured the “Radiance” theme.

Nominations in the categories of Jewelry Design, Media Excellence, and Retail Innovation will be accepted through July 30.

The singer’s ring ticks off many bridal trends, with a thick band, half-bezel setting, and solitaire diamond.

The bracelet references vintage high jewelry and snake symbolism as a playful piece where a python’s head becomes a working belt buckle.

The heist happened in Lebec, California, in 2022 when a Brinks truck was transporting goods from one show in California to another.

The 10-carat fancy purple-pink diamond with potential links to Marie Antoinette headlined the white-glove jewelry auction this week.

The Starboard Cruises SVP discusses who is shopping for jewelry on ships, how much they’re spending, and why brands should get on board.

The historic signet ring exceeded its estimate at Noonans Mayfair’s jewelry auction this week.