Tiffany Holiday Up 15%
As expected, with luxury booming, holiday sales at Tiffany & Co. were strong this year, increasing 15 percent to $818 million. Sales in November and December were strong across the board, in the U.S. and overseas in all divisions. U.S. retail sales increased 12 percent to $432 million. Comparable store sales rose 8 percent, including a 15 percent increase at the flagship store in New York. Both the number and average amount of transactions increased. Michael J. Kowalski, chairman and chief executive officer, said “We saw healthy sales increases in many product categories ranging from diamonds to silver jewelry.” Tiffany plans to open five to seven new stores in the United States in 2007.
anyone notice how David Yurman is following in Tiffany’s footsteps?
Did you know about Tiffany’s holiday boutiques? I’m sure that helped to boost their sales. Here in Charlotte, NC Tiffany’s opened a boutique around Thanksgiving in Downtown—2000sq ft approximately just to cater to the men who work at the surrounding fortune 500 companies. They closed it around the first week of January…I heard the sales were amazing with the limited inventory such as loose diamonds and engagement rings.
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