EditorsAug 15, 2025
Piece of the Week: Etho Maria’s Showgirl-Approved Ruby Drop Earrings Taylor Swift dons the vibrant pair in new promotional imagery for her upcoming album, “The Life of a Showgirl,” set to release in October.
FinancialsMar 20, 2020
Tiffany Sees Q4 Sales Bump, Braces for Coronavirus Hit
The jeweler’s main focus is preparing to weather the coronavirus pandemic, said CEO Alessandro Bogliolo.
The Tiffany True engagement ring in platinum with a square mixed-cut diamond and in 18-karat yellow gold with a yellow diamond. The jeweler’s engagement jewelry sales were down 2 percent in its recent full-year results, but gold and diamond jewelry sales boosted its bottom line.
New York—Tiffany & Co. reported an increase in sales in the fourth quarter as gold and diamond jewelry boosted its balance sheet, but the coronavirus outbreak looms large as many of the retailer’s stores remain closed.
Worldwide net sales in the fourth quarter rose 3 percent to $1.36 billion, compared with $1.32 billion a year ago. Same-store sales were also up 3 percent.
Net sales for the full year clocked in at $4.44 billion, a slight increase compared with $4.42 billion a year ago, while same-store sales were unchanged.
“Our primary focus now is on preparing our company, business and communities for the COVID-19 pandemic and the return to normal operations,” CEO Alessandro Bogliolo said in a press release.
Tiffany’s stores in the United States and Canada have been closed temporarily as the countries grapple with the coronavirus outbreak.
In mainland China, the jeweler has lost half of its normal selling days since Jan. 24.
Looking at the jeweler’s fourth-quarter performance region by region, in the Americas, where the most Tiffany stores are located, net sales in the fourth quarter were up 4 percent to $640 million with same-store sales up 3 percent as local customers increased spending.
Full-year sales slipped 2 percent to $1.9 billion with same-store sales also down 2 percent. The dip in sales was attributed to lower spending by foreign tourists.
In the Asia-Pacific region, fourth-quarter net sales were up 8 percent to $342 million with same-store sales climbing 7 percent. For the full year, net sales were up 2 percent to $1.3 billion with same-store sales down 1 percent.
The company experienced “significant disruptions” in the Hong Kong market due to political unrest but double-digit growth in mainland China in the fourth quarter and the full year offset that.
European sales rose 4 percent to $168 million in the fourth quarter with same-store sales up 5 percent. For the full year, sales dipped 1 percent to $498 million with same-store sales down 1 percent.
In Japan, sales dipped 8 percent in the quarter to $180 million, which Tiffany said reflected a change in Japan’s consumption tax, with same-store sales also down 8 percent.
Full-year sales in Japan were up 1 percent to $650 million with same-store sales unchanged.
Sales from the “other” segment, which includes five Tiffany stores in the United Arab Emirates, fell 9 percent to $26 million in the quarter while same-store sales were up 11 percent.
Full-year sales were down
Editors' Picks
Sponsored by
2 percent to $94 million with same-store sales down 9 percent, with the dip attributed to a decrease in wholesale sales of diamonds.
By category, sales from Tiffany’s jewelry collections, which includes lines like “Paper Flowers,” were up 2 percent while engagement jewelry sales dipped 2 percent.
The “Tiffany T” collection as well as its high jewelry were the sales drivers, the jeweler said, while sales of jewelry from designers Elsa Peretti, Paloma Picasso and Tiffany & Co. Schlumberger fell 6 percent
Bogliolo attributed growth in the fourth quarter to the company’s focus on “elevating our sales mix toward higher-value items within each jewelry product category, with the largest growth being in our gold and gold and diamond offerings.”
The higher price points of the gold and diamond offerings contributed to a 10 percent year-over-year increase in overall average unit retail price.
Highlights of Tiffany’s year include the addition of colorful pieces to its “Tiffany T” collection, a new men’s collection, the launch of his and hers Tiffany & Love fragrances, and the “Very, Very Tiffany” holiday campaign and catalog featuring luxe, high-ticket gift items.
As of Jan. 31, there were 326 Tiffany stores in operation worldwide, including 124 in the Americas. Nine stores opened and four closed this fiscal year.
Tiffany did not provide guidance for the year ahead as its acquisition by luxury titan LVMH is still pending.
By category, sales from Tiffany’s jewelry collections, which includes lines like “Paper Flowers,” were up 2 percent while engagement jewelry sales dipped 2 percent.
The “Tiffany T” collection as well as its high jewelry were the sales drivers, the jeweler said, while sales of jewelry from designers Elsa Peretti, Paloma Picasso and Tiffany & Co. Schlumberger fell 6 percent
Bogliolo attributed growth in the fourth quarter to the company’s focus on “elevating our sales mix toward higher-value items within each jewelry product category, with the largest growth being in our gold and gold and diamond offerings.”
The higher price points of the gold and diamond offerings contributed to a 10 percent year-over-year increase in overall average unit retail price.
Highlights of Tiffany’s year include the addition of colorful pieces to its “Tiffany T” collection, a new men’s collection, the launch of his and hers Tiffany & Love fragrances, and the “Very, Very Tiffany” holiday campaign and catalog featuring luxe, high-ticket gift items.
As of Jan. 31, there were 326 Tiffany stores in operation worldwide, including 124 in the Americas. Nine stores opened and four closed this fiscal year.
Tiffany did not provide guidance for the year ahead as its acquisition by luxury titan LVMH is still pending.
More on Financials
The Latest
WatchesAug 15, 2025
Audemars Piguet Acquires Majority Stake in ManufacturerIts investment in micromechanics expert Inhotec will preserve skills essential to the watchmaking industry as a whole, said the company.
MajorsAug 15, 2025
Rio Grande Names New Marketing DirectorNicolette Bianchi joins the wholesale provider with more than 15 years of cross-industry experience in marketing and product development.
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.
CollectionsAug 14, 2025
In Midst of ‘Sardine Girl Summer,’ Pippa Small Looks to ‘Flounder Fall’Her new “Ocean” collection was inspired by Myanmar’s traditional articulated fish jewelry, with depictions of flounder, catfish, and more.
Weekly QuizAug 15, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
MajorsAug 14, 2025
Casio America Names New CEOLongtime Casio executive Yusuke Suzuki is the new president and CEO of Casio’s U.S. subsidiary.
SourcingAug 14, 2025
West Coast Orgs to Host Trading Event, Mixer in LAThe full-day sourcing and networking event, slated for Aug. 18, will be followed by the fifth annual Mega Mixer Summer Soirée.
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.
TrendsAug 13, 2025
Cristiano Ronaldo Proposes With Gigantic Oval-Cut DiamondModel Georgina Rodríguez received a rock of an engagement ring, with her diamond estimated to be 35 carats, experts say.
SourcingAug 13, 2025
ICA Names 2025 Board of DirectorsThe board elected 9 new directors at its recent ICA Congress in Brazil.
TrendsAug 13, 2025
Colorado Jeweler, Whiskey Maker Collab on Ring GiveawayThree winners will receive a custom ring from Honest Hands Ring Co. inlaid with a piece of history from Denver-based distillery Stranahan’s.
SurveysAug 13, 2025
These Are The 25 Hottest Retailers, Says NRFJD Sports and Wawa were among the fastest-growing retail companies in the U.S. last year.
SourcingAug 13, 2025
Columbia Gem House Launches Winza Sapphires, RubiesThe new inventory, all untreated, features vibrant hues and unique bicolor combinations.
SourcingAug 12, 2025
Gemfields Sells Fabergé for $50MAcquired by a tech investor, the historic brand will continue to focus on jewelry, accessories, and timepieces.
Policies & IssuesAug 12, 2025
Higher Tariff on Chinese Imports Paused for 90 Days, Trump SaysPresident Donald Trump issued an executive order extending the pause on higher tariffs to November as negotiations with China continue.
CollectionsAug 12, 2025
Jacquie Aiche’s New Collection Harnesses the Energy of the ThunderbirdThe “Thunderbird Slab” collection features a thunderbird motif as a symbol of power, protection, and boundless possibility.
ColumnistsAug 12, 2025
Creative Connecting: How to Take a Better HeadshotColumnists Jen Cullen Williams and Duvall O’Steen share tips on how to elevate your professional image.
CrimeAug 11, 2025
Man Convicted of First-Degree Murder in Death of Colorado JewelerPeter Damian Arguello, a jeweler in the Denver suburb of Wheat Ridge, was found dead inside his store in November 2023.
IndependentsAug 11, 2025
Lisa Bridge to Depart Ben Bridge JewelerThe retailer, owned by Berkshire Hathaway, is becoming part of the Berkshire Hathaway Jewelry Group with Helzberg.
Events & AwardsAug 11, 2025
Bethenny Frankel to Give Keynote at CBG’s Experience ShowThe Continental Buying Group’s 2025 Tampa Experience Show is slated for Sept. 8-10.
EditorsAug 11, 2025
The Colors Expected to Be On-Trend in a Couple YearsAssociate Editor Lauren McLemore recently attended a fabrics trade show where a trend forecaster shared her predictions for summer 2027.
Events & AwardsAug 08, 2025
GJEPC’s Jewellers for Hope Celebrates 10 Years of FundraisingThe organization has raised more than $1.3 million for charity since its inception.
TrendsAug 08, 2025
Piece of the Week: Rahaminov Diamonds’ Bezel BangleThe brand’s latest iteration of a bezel-set diamond bangle features clean lines and a timeless design for a new modern silhouette.
WatchesAug 07, 2025
Bulova’s New Collection Honors Tony BennettThe first watch in the series commemorates his participation in the Civil Rights movement, marching from Selma to Montgomery in 1965.
Lab-GrownAug 07, 2025
Chatham Releases Catalog for Loose Lab-Grown GemstonesThe catalog contains a complete listing of all the loose gemstones in stock, as well as information about the properties of each stone.
TechnologyAug 07, 2025
Rembrandt Charms Debuts New Website, Bird CharmsThe company added a retailer dashboard to its site and three new birds to its charm collection, the cardinal, blue jay, and hummingbird.
Policies & IssuesAug 06, 2025
Tariff on India to Rise to 50%, Trump Says An additional 25 percent tariff has been added to the previously announced 25 percent.
