Tiffany’s Quarterly Americas Sales Flat

Tiffany & Co.’s comp sales in the Americas were flat in the second quarter, even as it worldwide sales numbers rose.

The company’s net sales rose 4 percent in the period to $926 million. In the Americas region, sales increased 2 percent to $444 million, but comparable store sales were flat.

In a conference call after the release of its financial results, Tiffany vice president for investor relations Mark Aaron said performance in the region “varied geographically,” with strong growth in the New York City flagship, but a fall-off in Guam and Hawaii, due to a lack of Japanese tourists.

Other regions showed strong sales growth, including Asia-Pacific (up 20 percent), Japan (up 7 percent), and Europe (up 11 percent).

Tiffany is planning to open three U.S. stores this year, including one in New Jersey’s Garden State Plaza, which opened earlier this month; one in Cleveland, which opens this week; and one in New Orleans.

Aaron said Tiffany’s sales of “statement jewelry” (over $50,000) were strong, particularly diamonds, but the company is also looking at improving its fashion jewelry assortment, with a Ziegfeld collection in silver, freshwater pearls, and onyx, and a “reinterpretation” of its Atlas collection.

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JCK News Director