The jewelry giant said it expects to see an uptick in engagements in the second half of the year.
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CEO Efraim Grinberg pointed to a challenging consumer spending environment, particularly in the watch category.
The jewelry retailer is eyeing expansion, increasing the number of stores it plans to open this year.
The jewelry retailer is forecasting sales will fall as much as 14 percent in its third quarter.
Lab-grown diamond sales in the United States and ongoing economic challenges in China are impacting natural diamond demand.
The gains come amid a tough time for parent company Kering, which saw sales slide 11 percent in the first half of the year.
Tiffany & Co. is focusing on its “iconic” collections while the company has made changes at the top at TAG Heuer and Hublot.
The company also reported the $150 million sale of an iron ore royalty right, part of its ongoing effort to divest “non-core” assets.
In contrast, the luxury giant’s watch sales fell 14 percent.
The company sold $315 million in rough in the fifth sales cycle of the year, down from $456 million in the same period last year.
The company is expecting to see a 5 to 10 percent increase in engagements this year.
The company attributed the decline to a “challenging” retail environment.
The company sold $380 million in rough diamonds, compared with $479 million in the same period last year.
The announcement coincided with its full-year results, with growth driven by its jewelry brands.
Looking ahead, the retailer said it sees “enormous potential” in Roberto Coin’s ability to boost its branded jewelry business.
While overall sales were sluggish, the retailer said its non-bridal fine jewelry was a popular choice for Valentine’s Day.
The jeweler credits its recent “Be Love” campaign and ongoing brand revamp for its 17 percent jump in sales.
The announcement came as the company reported a 23 percent drop in production in Q1.
The luxury titan posted declining sales, weighed down by Gucci’s poor performance.
The mining company’s Diavik Diamond Mine lost four employees in a plane crash in January.
De Beers’ rough diamond sales were down 18 percent year-over-year in its latest round of sales.
LVMH said the company performed well despite an uncertain geopolitical and economic environment.
The company plans to invest $25 million in marketing initiatives to boost awareness around its namesake and licensed brands.
The jewelry giant also posted a double-digit drop in same-store sales for the full year.
CEO Beth Gerstein spoke about the growing appeal of its non-bridal fine jewelry and its expansion plans on its recent earnings call.