Interviews
Jewelry retailer Tiffany registers 6% rise in comp sales
11 Jan '06
3 min read
The Company operates 95 TIFFANY & CO. international stores and boutiques.
-- Direct Marketing sales rose 14 percent to $63,661,000, due to substantial growth in Internet sales tied to increases in the number of orders and the average order size.
-- Other sales rose 14 percent to $21,479,000, primarily due to increased wholesale sales of diamonds.
Six IRIDESSE stores, which focus exclusively on the pearl jewelry category, added to sales growth, while sales in LITTLE SWITZERLAND stores were approximately equal to the prior year.
Michael J Kowalski, Chairman and Chief Executive Officer, said, 'They were extremely pleased that holiday sales growth was broad-based geographically and in various jewelry categories. Diamond jewelry sales continued to be especially strong.
Assuming no meaningful change in sales or margin trends in January, they are now forecasting full year 2005 earnings of $1.60-$1.62 per diluted share, versus their previously-announced forecast of $1.55-$1.65 per diluted share.
The Company anticipates reporting its fourth quarter and full year results on March 28, 2006 with a conference call at 8:30 am (EST).
Tiffany & Co operates jewelry and specialty retail stores and manufactures products through its subsidiary corporations.
Its principal subsidiary is Tiffany and Company.
The Company operates TIFFANY & CO retail stores and boutiques in the Americas, Asia-Pacific and Europe and engages in direct selling through Internet, catalog and business gift operations.
-- Direct Marketing sales rose 14 percent to $63,661,000, due to substantial growth in Internet sales tied to increases in the number of orders and the average order size.
-- Other sales rose 14 percent to $21,479,000, primarily due to increased wholesale sales of diamonds.
Six IRIDESSE stores, which focus exclusively on the pearl jewelry category, added to sales growth, while sales in LITTLE SWITZERLAND stores were approximately equal to the prior year.
Michael J Kowalski, Chairman and Chief Executive Officer, said, 'They were extremely pleased that holiday sales growth was broad-based geographically and in various jewelry categories. Diamond jewelry sales continued to be especially strong.
Assuming no meaningful change in sales or margin trends in January, they are now forecasting full year 2005 earnings of $1.60-$1.62 per diluted share, versus their previously-announced forecast of $1.55-$1.65 per diluted share.
The Company anticipates reporting its fourth quarter and full year results on March 28, 2006 with a conference call at 8:30 am (EST).
Tiffany & Co operates jewelry and specialty retail stores and manufactures products through its subsidiary corporations.
Its principal subsidiary is Tiffany and Company.
The Company operates TIFFANY & CO retail stores and boutiques in the Americas, Asia-Pacific and Europe and engages in direct selling through Internet, catalog and business gift operations.
Tiffany & Co
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