Luxury-jewelry retailer Tiffany & Co. (TIF) reported a 17% increase in worldwide sales for the two-month holiday period, driven by higher sales in all three of its geographic segments. The New York-based company also said it expects full-year earnings and net sales to beat its prior estimates.
Tiffany's net worldwide sales were $799.1 million in the holiday season period. On a constant-exchange-rate basis, worldwide net sales and comparable store sales increased 13% and 8%, respectively.
Based on business regions, Tiffany's sales in the Americas were up 15% to $443.9 million. Comparable U.S. store sales were up 12%, with November sales rising 16% and December sales growing 10%. In the New York flagship store, holiday sales rose 20%, while U.S. branch stores posted sales growth of 10%. Tiffany attributed the sales in New York and U.S. branch stores to higher number of transactions coming from increased sales to both local customers and foreign visitors.
The world's second-largest luxury-jewelry retailer also said its combined Internet and catalog sales in the U.S. increased 17%. The company's stores in Canada and Latin America also contributed to the growth.
Tiffany reported an 11% rise in its Asia-Pacific sales to $240.8 million. On a constant-exchange-rate basis, net sales rose 4% and comparable store sales edged up 1%, including a 12% decline in Japan and a 26% increase across the rest of the region.
Sales in Europe reached $103.0 million in the period, up 30% from last year. On a constant-exchange-rate basis, net sales grew 19% and comparable store sales rose 16%, driven by double-digit growth in the U.K. and most other countries.
Further, Tiffany said its other sales increased to $11.5 million from $3.4 million last year, reflecting increased wholesale sales of rough diamonds that do not meet the company's requirements.
At December-end, Tiffany operated 220 Tiffany & Co. stores and boutiques, of which 91 are in the Americas, 102 in Asia-Pacific and 27 in Europe. The company had operated 206 locations last year.
Further, Tiffany expects that its earnings and sales for the fiscal year ending on January 31 will come in above its earlier forecast. On November 25, Tiffany had projected full-year earnings from continuing operations in the range of $1.88 - $1.98 per share and a worldwide sales decline of about 8%.
As per the outlook provided on November 25, the company sees low-teens percentage sales decline in the Americas, a low-single-digit percentage increase in Europe, and a 60% downswing in other sales. Sales in the Asia-Pacific region are estimated to be equal to the prior year.
On average, analysts polled by Thomson Reuters expect earnings of $1.92 per share for the full-year on sales of $2.65 billion. Analysts' estimates typically exclude one-time items.
For its third quarter, Tiffany's profit was down year-over-year, reflecting soft consumer demand. The company's net income for the quarter was $43.34 million or $0.35 per share, compared with $43.78 million or $0.35 per share in the year-ago quarter. Third-quarter net sales totaled $598.2 million, 3% lower than $616.2 million a year ago. On a constant-exchange-rate basis, the company's net sales declined 5% and comparable store sales dropped 6% in the quarter.
At the time of the third-quarter results announcement, Tiffany has projected a mid-single-digit percentage increase in its worldwide sales for the fourth quarter.
TIF closed Monday's trading at $46.68, up $0.67, on a volume of 3 million shares. In pre-market trading, the company's shares dropped 1.31% or $0.61, to $46.07.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.