Interviews
News Flash
Tiffany's profit jumps in first quarter
31 May '08
3 min read
• Sales in the Asia-Pacific region (which includes sales in Japan, in Asia-Pacific countries outside Japan, and in the Middle East) increased 21% to $222.0 million from $183.1 million. On a constant-exchange-rate basis, sales rose 10% and comparable store sales increased 4% reflecting strong growth in all Asia-Pacific countries other than Japan.
• Sales in Europe increased 38% to $60.1 million, versus $43.5 million. On a constant-exchange-rate basis, a 30% increase in sales was due to 12% comparable store sales growth and incremental sales from four new stores.
• The Company operated 192 TIFFANY & CO. stores and boutiques at April 30, 2008 (81 in the Americas, 93 in the Asia-Pacific region and 18 in Europe), compared with 171 (74, 83 and 14 in those respective regions) a year ago.
• Other sales declined 21% to $12.4 million, from $15.7 million a year ago, due to reduced wholesale sales of diamonds made in connection with the Company's diamond sourcing program.
Michael J. Kowalski, chairman and chief executive officer, said, “We are pleased to start the year with sales and earnings growth above our expectations. A 12% increase in worldwide sales, despite only modest growth in the U.S. due to challenging conditions, reflects the benefit of globally-diversified distribution.”
Click here to view more:
• Sales in Europe increased 38% to $60.1 million, versus $43.5 million. On a constant-exchange-rate basis, a 30% increase in sales was due to 12% comparable store sales growth and incremental sales from four new stores.
• The Company operated 192 TIFFANY & CO. stores and boutiques at April 30, 2008 (81 in the Americas, 93 in the Asia-Pacific region and 18 in Europe), compared with 171 (74, 83 and 14 in those respective regions) a year ago.
• Other sales declined 21% to $12.4 million, from $15.7 million a year ago, due to reduced wholesale sales of diamonds made in connection with the Company's diamond sourcing program.
Michael J. Kowalski, chairman and chief executive officer, said, “We are pleased to start the year with sales and earnings growth above our expectations. A 12% increase in worldwide sales, despite only modest growth in the U.S. due to challenging conditions, reflects the benefit of globally-diversified distribution.”
Click here to view more:
Tiffany & Co.
Popular News
Leave your Comments
Esteemed Clients
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
