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:
close

Next Article in Multichannel Marketing

Sign up to our newsletters

Follow us on Twitter @dmnews

Latest Jobs:

More in Multichannel Marketing

Generating Loyalty for Brands and Retailers in an Omnichannel World

Generating Loyalty for Brands and Retailers in an ...

Harnessing personas, loyalty programs, and new technologies can help marketers better connect with customers.

News Byte: Salesforce Forms Unit to Focus on Verticals

News Byte: Salesforce Forms Unit to Focus on ...

The industries business unit, led by ex-White House CIO Vivek Kundra, will serve six industry groupings.

Columbia U. Puts the "Do" in "Donation"

Columbia U. Puts the "Do" in "Donation"

Columbia University raises nearly $7 million in donations in just 24 hours with a combination of social media, live events, and gamification.