Skip to main content
BoF Logo

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.

Tiffany Sales Rebound at Home

The luxury jeweller posted sales growth worldwide and especially in the Americas, its largest region.
Tiffany Store | Source: Shutterstock
By
  • Bloomberg

NEW YORK, United States — Tiffany & Co. is poised to shine again after the luxury jeweller posted sales growth worldwide and especially in the Americas, its largest region.

Same-store sales, a key retail metric, climbed 4 percent in the region last quarter, which included the prime holiday season. While the measure fell short of Wall Street estimates, the stock gained 1.8 percent in early trading.

Tiffany is looking to rebound from a sales slump under new chief executive officer Alessandro Bogliolo, who was hired last July. The former Diesel and Bulgari executive was tasked with reinvigorating its jewellery lines and building buzz to attract younger shoppers. The brand drew attention over the winter with a quirky set of luxury home decor items that included $450 rulers and $300 yo-yos.

Worldwide in the fourth quarter, same-store sales rose 1 percent, when holding currency constant. Analysts estimated a gain of 2.7 percent. The New York-based company reported growth also in the Asia-Pacific region, while Europe struggled.

ADVERTISEMENT

Tiffany shares rose as high as $104.55 in premarket trading. They had slipped 1.2 percent this year through Thursday’s close.

By Kim Bhasin; editors: Nick Turner, Jonathan Roeder and Lisa Wolfson.

In This Article

© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions

More from Financial Markets
A financial lens on the fast-changing fashion sector, including markets, investors and deals.

The Best of BoF 2023: Diversity’s Litmus Test

In 2020, like many companies, the $50 billion yoga apparel brand created a new department to improve internal diversity and inclusion, and to create a more equitable playing field for minorities. In interviews with BoF, 14 current and former employees said things only got worse.


The Year Ahead: The Future of Fashion Deal-Making

For fashion’s private market investors, deal-making may provide less-than-ideal returns and raise questions about the long-term value creation opportunities across parts of the fashion industry, reports The State of Fashion 2024.


The Investment Giant Behind Some of Fashion’s Biggest Deals

L Catterton, the private-equity firm with close ties to LVMH and Bernard Arnault that’s preparing to take Birkenstock public, has become an investment giant in the consumer-goods space, with stakes in companies selling everything from fashion to pet food to tacos.


view more

Subscribe to the BoF Daily Digest

The essential daily round-up of fashion news, analysis, and breaking news alerts.

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.
CONNECT WITH US ON
The Business of Beauty Global Awards - Deadline 30 April 2024
© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions, Privacy Policy, Cookie Policy and Accessibility Statement.
The Business of Beauty Global Awards - Deadline 30 April 2024