Financials

Tiffany’s 2019 Holiday Sales Rebound

FinancialsDec 27, 2019

Tiffany’s 2019 Holiday Sales Rebound

Sales climbed as much as 3 percent for the jeweler, which noted a “momentum shift” in the Americas.

20191227_Tiffany_Holiday_Advent_Calendar.jpg
A jewelry-filled advent calendar was a highlight of Tiffany’s holiday catalog this year. The jeweler’s sales were on the rise this holiday season.

New York—Tiffany & Co. turned in a solid holiday season with sales on the rise, particularly in mainland China and the Americas.

Worldwide sales for the interim holiday period (November and December) climbed 1 to 3 percent. (Tiffany did not respond to a request for the exact dollar amount of its holiday sales.)

The increase in sales was a welcome change from last year’s holiday results when waning demand from Chinese tourists took a toll on the jeweler’s year-end performance.

It’s also an improvement on the retailer’s performance earlier this year.

“We are pleased to present our interim sales results for this important season, which reflect improved global trends compared to previous quarters this year,” CEO Alessandro Bogliolo said in a press release announcing the results.

“We are happy to see sales growth in the Americas, a momentum shift in the region,” he added.

Net sales and comparable sales in the Americas were up 2 to 4 percent.

Tiffany has struggled in recent quarters to grow sales in the Americas, where the most Tiffany stores are located.

In mainland China, Tiffany reported “strong” double-digit sales growth, though it was offset by declines in the Hong Kong market as unrest in the country continues.

In the Asia-Pacific region, net sales were up 7 to 9 percent on a constant-exchange-rate basis while same- store sales were up 9 to 11 percent.

Net sales in Japan fell 12 to 14 percent, which Tiffany attributed to the negative impact of the recent increase in the consumption tax. Same-store sales in the country were down 14 to 16 percent.

In Europe, net sales climbed 3 to 5 percent while same-store sales were up 4 to 6 percent.

The luxury jeweler has been expanding and enhancing its store network, recently completing the expansion of its flagship store in Shanghai, which is now the largest Tiffany store in Asia.

Situated in a street-facing location within the Hong Kong Plaza mall, it also houses the newly opened Tiffany Blue Box Café, the first in mainland China.

Its London flagship store on Old Bond Street also has been renovated.

Tiffany recently opened its third location in Kyoto, Japan, and its fifth store in New York City at Hudson Yards.

The jeweler’s flagship store on Fifth Avenue in New York City was open throughout the holiday period, but will close in mid-January to undergo a renovation. The store will move to a space on E. 57th Street while the renovation is underway.

Bogliolo

said customers have been “enthusiastic” about the new space, which housed a men’s pop-up store and the special catalog gift items during the holiday season.

“Now we are eager for our customers to experience our full product range, including high jewelry, in the new space, while we start working to transform our iconic building into its future form,” he said.

As of Dec. 24, Tiffany had 327 stores, including 125 in the Americas, compared with 321 stores a year ago.
Lenore Fedowis the associate editor, news at National Jeweler, covering the retail beat and the business side of jewelry.

The Latest

Aurelia Demark London blue topaz bow earrings
TrendsNov 07, 2024
Amanda’s Style File: Golden and Blue November Hues

The month’s birthstones, citrine and blue topaz, reflect the changing colors of the season.

Jewelry designer Sidney Garber and ceramicist Carey Lowell
CollectionsNov 07, 2024
Sidney Garber Collaborates With Carey Lowell on Capsule Collection

The “Carey Lowell x Sidney Garber” collection stems from the friendship between the jewelry designer and ceramicist.

Ritani holiday ad campaign still image
MajorsNov 07, 2024
Ritani Debuts ‘No-Fuss’ Holiday TV Campaign

The two ads highlight diamond engagement rings and diamond studs with a straightforward approach.

Jewelers Mutual Group Cybersecurity
Brought to you by
Navigating Cybersecurity: Essential Guidance for Jewelers

From protecting customer data to safeguarding inventory records, it's crucial to learn how to tackle cybersecurity challenges.

American India Foundation
Policies & IssuesNov 07, 2024
Diamonds Do Good To Distribute $250K+ In Grants Next Year

In 2025, the nonprofit plans to continue its support of longstanding partners while also allocating some funds to a new initiative.

Weekly QuizNov 07, 2024
This Week’s Quiz
Test your jewelry news knowledge by answering these questions.
Take the Quiz
Alfred ‘Al’ Giddings Rolex Submariner watches Titanic
AuctionsNov 06, 2024
Two Rolexes With Ties to Titanic Head to Auction

The Rolex watches are from the collection of “Titanic” co-producer Alfred “Al” Giddings and will go up for sale at Sotheby’s next month.

Gemological Institute of America logo
GradingNov 06, 2024
GIA to Close Lab in Ramat Gan, Israel

The location will close by the end of the year due to it being financially unsustainable, GIA said.

Article-Top-Image.jpg
Brought to you by
Enhance Your Expertise with IGI’s In-Person Courses in NYC

This fall, sharpen your skills in jewelry grading, quality control and diamond assessment.

Iris Law and Hero Fiennes in Moments of Joy campaign
MajorsNov 06, 2024
David Yurman’s Holiday Campaign Celebrates ‘Moments of Joy’

The new campaign stars Sterling K. Brown, Hero Fiennes Tiffin, Winnie Harlow, Kyle Kuzma, Arizona Muse, and Iris Law.

Jacquie Aiche Lizzie Bracelet
CollectionsNov 05, 2024
Jacquie Aiche is Hosting an Online Treasure Hunt

One lucky winner will receive a “Lizzie” diamond bracelet.

Samantha Larson
IndependentsNov 05, 2024
Long's Jewelers Names New Director of Buying

Samantha Larson has joined the Boston-based retailer.

Emerging Jewelers Accelerator Program logo
Events & AwardsNov 05, 2024
JA, BIJC Now Accepting EJAP Applications for 2025

The Emerging Jewelers Accelerator Program will guide retail jewelry entrepreneurs through an eight-month educational curriculum.

Tiffany & Co. x CFDA Jewelry Designer Award
Events & AwardsNov 05, 2024
Tiffany & Co., CDFA Announce Design Award Finalists

Ten chosen designers will receive mentorship and participate in a design contest for the Tiffany & Co. x CFDA Jewelry Designer Award.

Dana J. Lorberg
MajorsNov 04, 2024
Jewelers Mutual Appoints Mastercard Exec to Its Board

Dana J. Lorberg brings 35 years of experience in finance, technology, and strategy to the role.

FBI robbery surveillance photo
CrimeNov 04, 2024
FBI Offering $15K Reward for Info on Halloween Mask-Wearing Robbers

The suspects are said to have been involved in the armed robberies of four jewelry stores across three Midwest states.

Models wearing Black Sand Pebble ring and Surf bracelet
CollectionsNov 04, 2024
John Hardy’s New Jewels Turn the Black Sands of Bali into Diamonds

The new designs blend Creative Director Reed Krakoff’s aesthetic with the brand’s Balinese roots.

Jaeger-LeCoultre Reverso Tribute watch
IndependentsNov 04, 2024
Eiseman Jewels is Celebrating Watches All Month-Long

The Dallas-based jeweler will showcase timepieces from Cartier, IWC Schaffhausen, Jaeger-LeCoultre, Parmigiani Fleurier, and more.

Artist Reena Ahluwalia “Pristine” painting
SourcingNov 01, 2024
Reena Ahluwalia Donates Diamond Painting to Benefit CJA

The artwork, titled “Pristine,” was raffled off at the Canadian Jewellers Association’s recent summit.

Gunderson’s Jewelers in Omaha, Nebraska
IndependentsNov 01, 2024
Gunderson’s Jewelers Opens New Location in Nebraska

The new store features a custom design studio and a bridal salon.

Sydney Evan x Wicked “Spell Book” coin charm
CollectionsNov 01, 2024
Piece of the Week: Sydney Evan Gets ‘Wicked’

Designer Rosanne Karmes has created a collection to coincide with the release of the movie musical, which is expected to be a blockbuster.

National Jeweler columnist Peter Smith
ColumnistsOct 31, 2024
Peter Smith: Nervous Flyers and Emotional Selling

Whether you’re calming the jittery gentleman in seat 13B or selling a diamond ring to a hesitant customer, an empathetic approach is best.

Annie E. Doresca, Grant Mobley, Alexis Padis, Terry Chandler
Events & AwardsOct 31, 2024
WJA Will Celebrate 4 Award Winners at ‘Future of Forty’ Gala

The gala includes a red carpet, music from DJ Renata, an awards program, and “mystery boxes.”

Instore show 2025
Events & AwardsOct 31, 2024
The Instore Show Returns To Chicago Area

The trade show, in its third year, will take place in late September at the Donald E. Stephens Convention Center in Rosemont, Illinois.

Constance Polamalu
Lab-GrownOct 31, 2024
Q&A: Constance Polamalu on Selling Natural and Lab-Grown Diamonds

The jeweler shared her change of heart on lab-grown diamonds and why she keeps them separate from natural diamonds in her business ventures.

Gem Awards New York City
Events & AwardsOct 30, 2024
These Designers, Journalists, and Retailers Are Up for a Gem Award

The 2025 Gem Awards are scheduled to take place March 14 at Cipriani 42nd Street in New York City.

Peggy Grosz
MajorsOct 30, 2024
Peggy Grosz Leaves Assael After Company Is Sold

Grosz had served as Assael’s senior vice president and creative director since 2017.

CD Peacock Love and Celebration Rings
CollectionsOct 30, 2024
CD Peacock Honors Its Hometown of Chicago in First Bridal Collection

“Love and Celebration” is the jeweler’s first in-house collection featuring engagement rings, wedding bands, and celebration rings.

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy