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Tiffany Profit Soars as China Recovers
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Tiffany & Co. reported a sharp jump in profit in the third fiscal quarter as sales in China surged and consumer spending shifted to higher-margin items.Net earnings rose 52% to $119 million in the three months ending October...
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Retail
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Nov 24, 2020
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Rapaport News
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The Importance of Being Tiffany
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There was a moment during the 2019 Academy Awards ceremony that made the jewelry world stop and gasp. Lady Gaga, who would later that evening collect the coveted Oscar for best...
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Retail
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Oct 12, 2020
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Avi Krawitz
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Tiffany Sees ‘Robust Recovery’ in China
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Tiffany & Co. reported a strong rebound in its operations in mainland China during April and May, after Covid-19 lockdowns resulted in heavy first-quarter losses for the jeweler. “While sales in key markets like the...
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Retail
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Jun 09, 2020
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Rapaport News
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Tiffany & Co. Revenue Flat at $4.4B in 2019
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Tiffany & Co. reported solid sales in fiscal 2019 as it introduced new products and sold higher-value jewelry.Group revenue was flat at $4.4 billion for the year ending January 31, matching the record annual...
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Retail
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Mar 22, 2020
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Rapaport News
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Tiffany Holiday Revenue Rises as US Recovers
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Tiffany & Co. noted a “momentum shift” in the Americas during the holidays, as growth in the region contributed to an overall increase in sales for the season.Company-wide revenue climbed by 1% to 3% year on year for the period from November...
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Retail
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Dec 26, 2019
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Rapaport News
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Tiffany Sales Stall as Tourist Spending Dries Up
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Sales at Tiffany & Co. were flat at $1.01 billion in thethird fiscal quarter as increases in mainland China compensated for weakspending in the US and Hong Kong. Revenue declined 4% to $422.5 million in the Americas region assales to tourists...
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Retail
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Dec 05, 2019
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Rapaport News
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LVMH Seals Tiffany Deal for $16B
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LVMH Moët Hennessy Louis Vuitton is set to acquire Tiffany & Co. for $16.2 billion, strengthening the Paris-based luxury group’sposition in the global jewelry market and increasing its US presence. “Tiffany [is] a company with...
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Retail
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Nov 25, 2019
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Rapaport News
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Tiffany Brings Ex-Barneys CEO on Board
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Tiffany & Co. has appointed former Barneys New York CEODaniella Vitale as executive vice president and chief brand officer, a newlycreated role that combines merchandising and marketing. Vitale left the department store...
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Retail
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Nov 21, 2019
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Rapaport News
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Tiffany to Hire Outsider for New Brand Role
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Tiffany & Co. plans to create a new role of chief brand officer to replace its current head of merchandising. The recruit, who will come from outside the company and will also be an executive vice president,...
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Retail
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Nov 19, 2019
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Rapaport News
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LVMH Proposes Tiffany Takeover
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LVMH Moët Hennessy Louis Vuitton has approached Tiffany & Co. about acquiring the US jeweler for almost $15 billion, according to media reports. The Paris-based luxury group submitted a non-binding offerto Tiffany earlier...
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Retail
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Oct 27, 2019
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Rapaport News
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Tiffany & Co. Expanding in China
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Tiffany is growing its presence in China to capitalize on a shift toward local purchasing among the country’s consumers. The jeweler plans to open new stores, launch its Blue Box Cafe in the country, and introduce more...
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Retail
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Sep 02, 2019
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Rapaport News
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Tiffany Sales Fall as Tourist Spending Slows
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Sales at Tiffany slipped in the second quarter, aspurchases by foreign tourists decreased in the Americas and Asia Pacific. Revenue fell 3% to $1.05 billion year on year in the threemonths ending July 31, while comparable-store sales — at branches...
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Retail
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Aug 28, 2019
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Rapaport News
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Tiffany Tells Its Story in China Exhibition
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Tiffany & Co. will launch an exhibition in Shanghai, China, tocelebrate the greatest jewelry masterpieces it has created over its 180 years. The “Vision & Virtuosity” display, which will run from September 23 to November...
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Retail
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Aug 06, 2019
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Rapaport News
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Tiffany Sales Fall as Tourist Dip Worsens
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Tiffany & Co.’s revenue and profit dropped in the first fiscalquarter amid a continued decrease in spending by foreign tourists and a strong US dollar, it said Tuesday. Total revenue fell 3% to $1 billion in the three monthsending April 30,...
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Retail
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Jun 04, 2019
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Rapaport News
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Tiffany Weathers Slow 4Q for Record Year
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Tiffany & Co. reported record annual sales in 2018, despite the challenging economic environment that caused a slowdown in the fourth quarter. “In 2018...net sales surpassed levels not seen since 2014,” said Tiffany...
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Retail
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Mar 24, 2019
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Rapaport News
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Tourist Slump Damages Tiffany’s Holiday
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Sales at Tiffany & Co. fell during the holiday season, amidreduced spending by Chinese tourists, while economic uncertainties affecteddemand in the Americas and Europe. “Overall holiday sales results came in short of ourexpectations, which had...
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Retail
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Jan 20, 2019
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Rapaport News
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Personalizing Can Give Stores an Edge
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In the retail industry, “The customer is always right” haslong been the motto. This drive to please consumers means businesses areconstantly in search of new and inventive ways to make them happy. But where dothey start?...
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Retail
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Jan 01, 2019
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Leah Meirovich
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Hong Kong Jewelers Warn of Slowdown
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Hong Kong’s largest jewelry retailers expect sales growth to slow in light of recent US-China trade tensions and the depreciation of the yuan currency.Same-store sales at Luk Fook dropped by a single-digitpercentage in Hong Kong and Macau in October...
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Retail
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Dec 02, 2018
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Rapaport News
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Tourist Slowdown Hits Tiffany Revenue
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Tiffany & Co.’s shares dropped 12% Wednesday after diminished spending by Chinese tourists led to weaker-than-expected sales. Comparable-store sales — at branches open for at least a year — grew 3% in the third fiscal quarter ending October 31,...
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Retail
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Nov 28, 2018
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Rapaport News
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Tiffany Plans New Engagement-Ring Design
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Tiffany & Co is preparing to launch a new engagement-ringconcept as it heads into the holiday season on the back of solid second-quarter results. The jewelry retailer highlighted several new projects thatwill frame its strategy in the second half...
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Retail
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Aug 30, 2018
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Rapaport News
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