Tiffany reduced sales in the festive season by 6%


Moscow. On 19 January. American Tiffany & Co., the second largest chain of retail jewelry trade, has reduced sales this past holiday season (November-December) by 6% compared with the previous year to $961 million, according to a press release from the company.

Excluding currency fluctuations, the index dropped 3%. Comparable sales in stores open at least a year, declined 5%.

Tiffany expects for the financial year ending 31 January 2016, the fall of net profit per share by about 10% versus the previously expected decline of 5-10%. The company expects “minimal sales growth and net income” the following fingado, the report says.

Holiday sales in the Americas decreased by 7% to $505 million Is due, including a reduction in tourist spending in new York and other regions of the United States due to the strengthening of the dollar.

In the Asia-Pacific region sales fell by 11%, to $187 million Strong indicators in China were more than offset by weak markets in Hong Kong and Singapore, said in a press release.

In Japan sales grew by 9%, reaching $123 million

In Europe the figure was $128 million, 4% below the volume in November-December 2014.

At December 31, Tiffany operated 307 stores, including 125 in North and South America, 39 in Europe and one in Russia, compared to 296 stores a year earlier.

Tiffany plans to publish full accounts for the fourth fiscal quarter and year on March 18.

The company’s shares in the market on Tuesday has fallen in price on 4,3%.