Bloomberg the Company & Products

Bloomberg Anywhere Login


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Tiffany Holiday Sales Advance 4% Amid Demand in Asia, U.S.

Jan. 10 (Bloomberg) -- Tiffany & Co., the world’s second-largest luxury jewelry retailer, reported a 4 percent increase in holiday sales and reiterated its full-year earnings forecast, driven by demand in the U.S. and Asia.

Global sales in November and December rose to $1.03 billion, the New York-based company said today in a statement. Tiffany recorded a 4 percent gain in the period a year earlier.

Chief Executive Officer Michael Kowalski said Tiffany saw growth in its fine and statement, engagement and fashion jewelry categories during the holiday period. Sales in the Americas region rose 6 percent to $550 million compared with an increase of 3 percent a year earlier.

“It’s been a good year for jewelry, there were clear trends that Tiffany was able to capitalize on,” Dorothy Lakner, a New York-based analyst at Topeka Capital Markets, said in a phone interview. “Overall, they were pretty strong.”

Tiffany fell 1.8 percent to $90.36 at the close in New York. The stock jumped 62 percent last year.

Sales at stores open at least a year increased 6 percent, according to the statement. Earnings per share for the year ending Jan. 31 will be as much as $3.75. Analysts’ projected $3.79, the average of 23 estimates compiled by Bloomberg.

‘Great Gatsby’

Sales were helped by “generally supportive” macroeconomic trends, David Schick, an analyst at Stifel Financial Corp., wrote in a Jan. 6 note. Purchases also may have been driven by new designs in the Atlas collection, featuring Roman numerals, and the Ziegfeld collection, inspired by last year’s “Great Gatsby” film, he said.

Schick, based in Baltimore, recommends buying the shares.

In Asia Pacific, sales increased 5 percent compared with a 13 percent advance a year earlier. European sales climbed 11 percent, compared with a gain of 2 percent a year earlier.

Brian Yarbrough, an analyst with Edward Jones & Co. in St. Louis, had estimated total holiday sales would climb 6.8 percent. Allegra Perry, an analyst with Cantor Fitzgerald in London, estimated Tiffany would report a 4 percent gain in total sales, and a 1 percent gain in Americas comparable sales.

The company will report fourth-quarter earnings on March 21. Cie. Financiere Richemont SA is the world’s largest luxury jewelry maker.

To contact the reporters on this story: Cotten Timberlake in Washington at; Lindsey Rupp in New York at

To contact the editor responsible for this story: Robin Ajello at

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.