Home / Knowledge / News / Fashion / Tiffany Comparable store sales decline in Q4 2007

Tiffany Comparable store sales decline in Q4 2007

Mar '08
Tiffany & Co. reported that its net sales increased 15% in the fiscal year ended January 31, 2008 and rose 10% in the fourth quarter. Net earnings per diluted share from continuing operations excluding non-recurring items increased 22% to $2.33 in the year and increased 19% to $1.27 in the fourth quarter.

Net sales in the fiscal year increased 15% to $2,938,771,000. On a constant-exchange-rate basis, which excludes the effect of translating foreign-currency-denominated sales into U.S. dollars, net sales increased 13% and worldwide comparable store sales increased 7%.

Net sales in the fourth quarter rose 10% to $1,053,157,000. On a constant-exchange-rate basis, net sales increased 7% due to incremental sales from newly-opened stores and a 1% increase in worldwide comparable store sales.

Net earnings in the fiscal year increased 20% to $303,772,000, or $2.20 per diluted share, compared with $253,927,000, or $1.80 per diluted share. Earnings in the current year were affected by several one-time items noted below.

Net earnings in the fourth quarter declined 16% to $118,250,000, or $0.89 per diluted share, from $140,499,000, or $1.02 per diluted share, in the prior year. Earnings in the current year were adversely affected by several one-time items noted below.

The following one-time items affected earnings in the quarter and/or the year:

(i) In the fourth quarter, the Company recorded a pre-tax charge of $19,212,000, or $0.09 per diluted share after tax, in cost of sales; this charge was for product obsolescence related to management's decision to discontinue certain watch models in anticipation of the start-up of its strategic alliance with The Swatch Group Ltd.

Interviews View All

Viral Desai, Zenitex Mill Pvt Ltd

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Top executives, Textile industry

Top executives
Textile industry

In 10 years' time, everything will have the responsible factor integrated

Footwear industry, Head honchos

Footwear industry
Head honchos

Personalised and differentiated footwear is in high demand

Manoj Sorathiya,

Manoj Sorathiya

Surat-based Sunrise Imports & Exports Co is a manufacturer and...

Roz Guarnori,

Roz Guarnori

FESPA Global Print Expo 2019, to be held in Munich from May 14-17, is...

Kalai Selvi,

Kalai Selvi

Vidyashilp Academy in Bengaluru is the country's first Fairtrade School....

Keith McMillen, Bebop Sensors

Keith McMillen
Bebop Sensors

Bebop Sensors' smart fabrics allows for a new level of interaction between ...

Sameer Sonkusale & Rachel Owyeung, Tufts University

Sameer Sonkusale & Rachel Owyeung
Tufts University

A team at the Tufts University in Massachusetts was recently in news for...

Michael Jaenecke, Messe Frankfurt

Michael Jaenecke
Messe Frankfurt

From May 14 to 17, international exhibitors will present the entire...

Jay Ramrakhiani, Occasions Elegance Wear

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Amiben Shroff, Shrujan

Amiben Shroff

From its modest beginning in the late 1960s, Shrujan has grown into a...

Chandani Sahi, By Chandani

Chandani Sahi
By Chandani

By Chandani is a womenswear prêt couture brand with fusion silhouettes by...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

November 2019

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

Follow us on instagram


Follow Fibre2Fashion On

Advanced Search