Tiffany Sales, Earnings Rise

Share this article:
Luxury merchandise marketer Tiffany & Co., New York, sparkled yesterday when it announced that net sales in its first quarter ended April 30 increased 15 percent to $456.96 million.


On a constant-exchange-rate basis that excludes the effect of translating local-currency-denominated sales into U.S. dollars, worldwide net sales rose 11 percent as comparable-store sales improved 9 percent.


Also, net earnings in the quarter climbed 12 percent to $40.31 million from $35.86 million in the prior year.


However, direct marketing sales declined 1 percent in the quarter to $36.9 million despite a combined 15 percent rise in e-commerce and catalog sales that resulted from a larger average order size and improved e-commerce orders. But business sales declined 24 percent, as expected, due to the year-over-year effect of the company's decision to discontinue service award program sales in 2003.


Share this article:
You must be a registered member of Direct Marketing News to post a comment.
close

Next Article in Multichannel Marketing

Sign up to our newsletters

Follow us on Twitter @dmnews

Latest Jobs: