Headlines

Tiffany’s Q3 Sales, Earnings Down

Single-digit drops

Published

8 years ago

November 25, 2015

Tiffany & Co. (New York) announced its third-quarter earnings results, which included an 8 percent decrease in net earnings to $91 million. The company told investors that net earnings for the year would likely be 5 to 10 percent lower than the previous year.

The company’s net sales dropped 2 percent to $938 million and same-store sales dropped 5 percent.

The weak sales are being attributed, in part, to a strong dollar and decreased tourist spending. USA Today reported that if currency exchange rates hadn’t been in effect, the company would have seen a 4 percent increase in worldwide sales.

However, the company did note that diamond prices are down 15 percent for the year, which will help its profit margins.

MasterClass: ‘Re-Sparkling’ Retail: Using Store Design to Build Trust, Faith and Brand Loyalty

HOW CAN WE EMPOWER and inspire senior leaders to see design as an investment for future retail growth? This session, led by retail design expert Ian Johnston from Quinine Design, explores how physical stores remain unmatched in the ability to build trust, faith, and loyalty with your customers, ultimately driving shareholder value.

Presented by:
Ian Johnston
Founder and Creative Director, Quinine Design