Content about Tiffany

Tiffany & Co.’s dazzling jewel box in downtown Manhattan’s SoHo neighborhood captures the retailer’s signature elegant feel and heritage of craftsmanship. The interiors of the 7,000-sq.-ft. store, the jeweler's third outpost in New York City, were designed by select artisans who put their own spin on some traditional Tiffany design motifs.

New York -- Tiffany & Co.’s fourth-quarter net income inched up 0.7%, but its results still topped analysts’ predictions as strong demand in Asia helped to offset domestic weakness. The company also offered an annual sales outlook that topped analysts' estimates, citing its strong prospects in most Asian markets.
    
For the quarter ended Jan. 31, Tiffany earned $179.6 million, compared with $178.4 million in the year-ago period. Revenue increased 4% to $1.24 billion.
     

New York -- Tiffany & Co. announced that it plans to open a flagship in Paris.

The approximately 10,000-sq.-ft. multi-level store will be located at 62 Avenue des Champs Elysées and is expected to open in 2014.

New York -- Tiffany & Co. reported Thursday that profit for the first quarter was essentially flat at $81.5 million, compared with $81.1 million in the year-ago quarter, prompting the jeweler to reduce its forecast for both sales and profit for the year.

Worldwide revenue increased almost 8% to $819.2 million in the quarter, topping Wall Street’s estimates of $817.1 million in revenue. Same-store sales rose 4%.

Tiffany said it now projects that sales globally will be up 7% to 8%, instead of the originally forecasted 10% rise.

New York City -- Tiffany reported Tuesday that its fourth-quarter profit slipped to $178.4 million from $181.2 million last year. Revenue met expectations, rising nearly 8% to $1.19 billion.

For the year, net earnings surged 19% to $439 million, and sales rose 18% to $3.6 billion.

The jewelry retailer said it plans to open 24 new stores in 2012, including nine in the Americas, seven in Asia-Pacific, three in Europe and five in the United Arab Emirates. It plans nine new stores in 2013.

New York City -- Tiffany & Co. reported Tuesday that sales growth weakened in the United States and Europe during the holiday season, although other regions experienced significant gains.

The company cut its yearly earnings guidance. 

New York City -- Tiffany & Co. on Monday launched its first annual web-based Corporate Responsibility Report.

The website (tiffany.com/sustainability) details the jeweler’s 2010 sustainability performance, and provides insight into its standards and operations regarding the sourcing of precious materials, as well as includes information on eco-friendly packaging and catalogs.
 

New York City -- Tiffany & Co. announced plans to open a store in Prague, marking the luxury retailer’s first location in Eastern Europe. The 2,600-sq.-ft. store is scheduled to open in the summer of 2012.

“The opening of our first store in Eastern Europe marks a significant strategic move for Tiffany, as we further develop and grow our business throughout Europe,” said Melvyn Kirtley, group VP Europe.
 

New York City -- Tiffany & Co. said Thursday it plans to open a store in New York’s SoHo neighborhood in September 2012.

The 7,000-sq.-ft. store will occupy a space that combines two locations -- 97 Greene Street and 106 Wooster Street. 

The 2012 opening corresponds to Tiffany’s 175th anniversary of its founding on Lower Broadway in the 1850s.

New York City -- Supporting continued strength in the luxury sector, Tiffany & Co. reported Friday that profit for the quarter ended July 31 soared 33% to $90 million, from $67.7 million a year earlier. Results surpassed Wall Street estimates, and the jewelry retailer raised its full-year profit outlook.

Revenue surged 30% in the quarter, to $872.7 million, beating analysts’ expected $785.6 million.  Same-store sales jumped 22%.

New York City -- Tiffany & Co. reported Thursday that it has shuffled responsibilities among two of its executive officers, effective immediately.

Patrick F. McGuiness, 45, has been appointed senior VP and CFO. He joined Tiffany in 1990 and has held a variety of management positions within the finance and merchandising divisions. He was promoted to senior VP finance in 2007, and the new appointment adds responsibility for the retailer’s investor relations program.

In the June 9 edition of SiteTalk, we referenced a survey that found Fifth Avenue in Manhattan to be the most expensive place in the world to operate a store -- and asked you if it was worth the expense. Here is what one reader had to say.