Thursday, May 27, 2010

Tiffany Worldwide Sales Rise 22% in Q1

"Worldwide sales at Tiffany & Co. increased 22% in the first quarter ended April 30, 2010 due to growth in most regions and product categories. As a result of the strong, and higher-than-expected, sales growth and operating margin, net earnings more than doubled to $0.50 per diluted share." 

Highlights include: 
  • Sales in the Americas increased 22% to $315.3 million.
  • Internet and catalog sales in the Americas rose 23%.
  • In Asia-Pacific, sales increased 50% to $122.3 million.
  • Sales in Europe rose 25% to $68.6 million.
  • In Japan, sales declined 2% to $115.0 million.

5 Comments:

At 5/27/2010 7:24 AM, Anonymous geoih said...

I would bet that this is a result of an increased demand for real assets (i.e., not cash), not a measure of overall economic productivity.

 
At 5/27/2010 11:22 AM, Blogger juandos said...

"Sales in the Americas increased 22% to $315.3 million"...

That'll change with the machinations of the Obama administration and Congress: No More Money for Bling!

 
At 5/27/2010 11:45 AM, Blogger Kat said...

geoih,

A lot of people are buying gold and diamonds now to hedge against the seemingly inevitable collapse of fiat currency.

However, Tiffany's is one of the biggest ripoffs in the world. Their mark-up is way too high for anyone to think of the baubles as investments in real assets.

I banned jewelry from there (it was a favourite store of my husband's) in my twenties when I realized their mark-up was larger than virtually any other Jewelry store.

 
At 5/27/2010 11:51 AM, Blogger QT said...

Kat,

Good for you. Consumers get very low returns on jewelry despite the prices that one sees on estate jewelry.

 
At 5/27/2010 12:32 PM, Anonymous gettingrational said...

Are NewAge Loose Diamonds a hedge against inflation? Their color assortment includes pomagranate! I still think that a Tffany Engagement ring is the proposal deal closer.

 

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