Tiffany's focus on the young pays off
Reuters - Aug 29th 2018, 09:51
Tiffany’s quarterly results topped Wall Street estimates on strong demand for its jewellery in the Americas and China, helping the upmarket retailer raise its full-year profit forecast.
Tiffany’s shares rose 4.3% to $135.37 in premarket trading after the company said it expected full-year earnings per share to be between $4.65 and $4.80, up from $4.50-$4.70.
Under CEO Alessandro Bogliolo, Tiffany has been reaping the benefits of a shift in focus to price-conscious younger clientele by selling low-end fashion jewellery and introducing high-end home items such as $350 gold crazy straws.
Net sales in the Americas, which accounts for nearly half of the company’s total sales, rose 8% to $475m.
Sales in Asia Pacific grew 28%, also helped by increased spending by foreign tourists in China.
Tiffany’s same-store sales rose 7% excluding the effect of exchange rate fluctuations.Business Live
Black Friday boosts November’s retail sales
16/01/2019 - 14:12
Consumers came under pressure in 2018, with the first VAT hike in two decades and steep fuel price increases.
Five smart ways to shift excess stock
16/01/2019 - 08:49
Surplus stock is one challenge that every retailer wants to turn into an opportunity.
Carrefour to use AI for supply chain optimisation
15/01/2019 - 15:19
Carrefour has announced plans to use artificial intelligence to optimise its inventory management, making it the first French retailer to do so.
Why Macy’s guidance triggered US retail wipeout
15/01/2019 - 14:18
Macy’s did not have as merry a Christmas as it expected, and now all of retail is under the microscope.
Online sales boost luxury goods group Richemont’s earnings
14/01/2019 - 09:04
Johann Rupert’s Richemont, the luxury goods group that was initially cautious about e-commerce, has seen online businesses YOOX Net-a-Porter (YNAP) and Watchfinder giving its earnings a handy boost.