TrendsNov 26, 2025
Piece of the Week: Rosior’s Pumpkin RingRosior’s high jewelry cocktail ring with orange sapphires and green diamonds is the perfect Thanksgiving accessory.
FinancialsDec 05, 2019
Tiffany’s Sales Take a Hit in the Americas
The jeweler fell short of revenue and same-store sales expectations in Q3 due to weak demand in the Americas and unrest in Hong Kong.
The “Five Golden Schlumberger Rings” ($210,000) featured in Tiffany & Co.’s new high-end holiday gift guide. The jeweler fell short of revenue and same-store sales expectations in the third quarter.
New York—Tiffany & Co. missed the mark on revenue and same-store sales in the third quarter as demand in the Americas weakened and the toll of the Hong Kong protests outweighed growth in mainland China.
It was the American jeweler’s first earnings report since announcing its pending acquisition by French luxury titan LVMH Moët Hennessy Louis Vuitton in a deal valued at $16.2 billion.
Net sales in the third quarter were unchanged at $1.014 billion, compared with $1.012 billion a year ago.
Same-store sales were also flat.
The jeweler fell short of analyst expectations of $1.037 billion in revenue with same-store sales growth of 1 percent.
Excluding the Hong Kong market, worldwide sales increased 4 percent with same-store sales rising 3 percent.
Gross profit dipped 1 percent to $625.7 million, or 62 percent of sales, compared with $629.3 million, or 62 percent of sales, a year ago.
“Our underlying business remains healthy with sales attributed to local customers on a global basis growing in the third quarter, led by strong double-digit growth in the Chinese Mainland offset in part by softness in domestic sales in the Americas,” CEO Alessandro Bogliolo said in a press release.
(Tiffany did not hold an earnings call discussing the results.)
Net sales in the Americas, where the most Tiffany stores are located, were down 4 percent to $423 million due in part to a decline in sales from both local customers and tourists.
Same-store sales in the region also fell 4 percent.
European sales fell 3 percent to $111 million, attributed to the effect of foreign currency translation, while same-store sales were unchanged.
Asia-Pacific sales were flat at $294 million, also attributed to foreign currency translation, while same-store sales were down 2 percent.
Tiffany highlighted its double-digit growth in mainland China while noting the effect of “significant disruptions” in Hong Kong related to the ongoing political unrest in the region.
Higher spending by locals was offset by a dip in tourist spending.
In Japan, third-quarter sales soared 19 percent to $169 million with same-store sales also up 19 percent.
Tiffany attributed the growth to customers getting in last-minute shopping before the country’s consumption tax hike took effect in October, rising from 8 percent to 10 percent on most goods.
Sales from the “other” segment, which includes five Tiffany stores in the United Arab Emirates, fell 13 percent to $17 million while same-store sales were down 3 percent.
By category, sales from Tiffany’s jewelry
collections, which includes lines like “Tiffany T” and “Paper Flowers,” and sales from its engagement jewelry, were unchanged.
Sales of jewelry from designers Elsa Peretti, Paloma Picasso and Tiffany & Co. Schlumberger increased 1 percent.
Bogliolo noted in the second-quarter earnings call in August that the company plans to “properly refresh our product assortment,” by fiscal 2021.
The jeweler recently added colorful pieces to its “Tiffany T” collection, introduced a men’s collection, launched his and hers Tiffany & Love fragrances, and the new “Very, Very Tiffany” holiday campaign and catalog featuring luxe, high-ticket gift items.
As of Oct. 31, there were 323 Tiffany stores in operation worldwide, including 124 in the Americas, compared with 321 a year ago.
Tiffany did not provide guidance for the year ahead, but Chief Financial Officer Mark Erceg noted in the second quarter that if the ongoing unrest in Hong Kong continues, the jeweler’s full-year sales and EPS (earnings per share) could come in at the lower end of its guidance range.
Sales of jewelry from designers Elsa Peretti, Paloma Picasso and Tiffany & Co. Schlumberger increased 1 percent.
Bogliolo noted in the second-quarter earnings call in August that the company plans to “properly refresh our product assortment,” by fiscal 2021.
The jeweler recently added colorful pieces to its “Tiffany T” collection, introduced a men’s collection, launched his and hers Tiffany & Love fragrances, and the new “Very, Very Tiffany” holiday campaign and catalog featuring luxe, high-ticket gift items.
As of Oct. 31, there were 323 Tiffany stores in operation worldwide, including 124 in the Americas, compared with 321 a year ago.
Tiffany did not provide guidance for the year ahead, but Chief Financial Officer Mark Erceg noted in the second quarter that if the ongoing unrest in Hong Kong continues, the jeweler’s full-year sales and EPS (earnings per share) could come in at the lower end of its guidance range.
More on Financials
The Latest
IndependentsNov 26, 2025
Greenwich St. Jewelers Launches Colorful Holiday CampaignThe “Embrace Your True Colors” campaign features jewels with a vibrant color palette and poetry by Grammy-nominated artist Aja Monet.
MajorsNov 26, 2025
Serafino Consoli Names New VP of Sales, Brand Development for the AmericasLuxury veteran Alejandro Cuellar has stepped into the role at the Italian fine jewelry brand.
Brought to you by
Impacting Tomorrow TodayHow Jewelers of America’s 20 Under 40 are leading to ensure a brighter future for the jewelry industry.
Events & AwardsNov 26, 2025
Grandview Klein Presents 4 Scholarships in NamibiaThe company gave awards to four students at the Namibia University of Science & Technology, including one who is a Grandview Klein employee.
Weekly QuizNov 20, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
IndependentsNov 25, 2025
Pearl Stringer Margaret Hoisik DiesShe is remembered as an artist who loved her craft and was devoted to her faith, her friends, and her family.
SourcingNov 25, 2025
Finestar Opens Diamond Manufacturing Facility in JohannesburgIt joins the company’s other manufacturing facilities globally, including in India, Botswana, and Namibia.
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.
TrendsNov 25, 2025
Amanda’s Style File: Polka DotsThe polka dot pattern transcends time and has re-emerged as a trend in jewelry through round-shaped gemstones.
CrimeNov 25, 2025
Former Arizona AG Official Charged With Trafficking Stolen JewelryVanessa Hickman, 49, allegedly sold a diamond bracelet that was mistakenly sent to her home.
Events & AwardsNov 25, 2025
GIA Awards Susan Jacques With Its Highest HonorGIA’s former president and CEO was presented with the Richard T. Liddicoat Award for Distinguished Achievement.
Recorded WebinarsNov 24, 2025
Watch: Top Tips for Social Media EtiquetteSocial media experts spoke about protecting brand reputation through behaving mindfully online.
WatchesNov 24, 2025
Breitling Reveals Plans for Gallet, Universal GenèveIn 2026, the three will come together as “House of Brands,” with Gallet sold in Breitling stores and Universal Genève sold separately.
CollectionsNov 24, 2025
Muse Debuts a Wicked 'Have a Heart x Cynthia Erivo' SequelThe second drop, which includes more Elphaba-inspired pieces from additional designers, will continue to benefit nonprofit Dreams of Hope.
IndependentsNov 24, 2025
J.R. Dunn Jewelers Names New PresidentSecond-generation jeweler Sean Dunn has taken on the role.
MajorsNov 21, 2025
Natural Diamond Council Names New CEOAmber Pepper’s main focus will be on digital innovation and engaging younger consumers.
SourcingNov 21, 2025
De Beers’ Branded, Traceable Diamonds Roll Out to 19 Retailers Called “Origin by De Beers Group,” the loose, polished diamonds are being sold in a total of 30 stores in the United States and Canada.
CollectionsNov 21, 2025
Piece of the Week: Melissa Kaye’s ‘Rocky Infinity’ NecklaceThe lariat necklace features a 4.88-carat oval-cut Zambian emerald in 18-karat yellow gold.
AuctionsNov 20, 2025
Vanderbilt Jewels Shine at Phillips Sale, Pink Diamond WithdrawnA 43-carat sapphire brooch from the Vanderbilt collection was the top lot of the Geneva sale.
CollectionsNov 20, 2025
Rebecca Rau Jewels Debuts With ‘Then & Now’ CollectionRau is a fourth-generation art and antique dealer from M.S. Rau gallery whose first jewelry collection merges artifacts with modern design.
Policies & IssuesNov 20, 2025
RJC Names New Executive DirectorFormer De Beers sustainability leader Purvi Shah will take over the role in February 2026.
WatchesNov 20, 2025
LVMH Takes Minority Stake in Citizen Group-Owned Movement Maker La Joux-Perret is based in La Chaux-de-Fonds, Switzerland, and makes solar quartz as well as mechanical watch movements.
GradingNov 20, 2025
Julia Griffith Joins SSEF as Head of EducationShe previously taught at Gem-A and is the founder of The Gem Academy.
CollectionsNov 19, 2025
Larkspur & Hawk Celebrates 25 Years With Helena Bonham Carter CampaignThe British actress and her daughter modeled pieces from the brand’s new “Palette” capsule for its “Once Upon a Time” holiday campaign.
TechnologyNov 19, 2025
Google Has a New Form for Reporting ‘Review Bombing’ Attacks Plus, the tech giant shares the steps retailers should take if they believe they’re a victim of a review extortion scam.
IndependentsNov 19, 2025
Houston Jeweler Keith Shaftel Retires, Next Generation Steps In Danny and Gaby Shaftel are now Shaftel Diamonds’ CEO and chief operating officer, respectively.
TrendsNov 19, 2025
Midas Chain Releases 2025 Holiday Style GuideThe jewelry manufacturer’s seasonal offering features its new “Melodie” bangles, as well as mini stud earrings and layering pieces.
