Tiffany & Co sales in Nov-Dec'10 above expectations

Sales at Tiffany & Co reached higher points than projected, for the months of November and December 2010. The global sales increased by 11 percent to $888.5 million and comparable store sales jumped 8 percent. The retailer recorded a good rise in sales across majority of its products, but the categories that stood out were fine jewelry collections, diamond engagement rings and fashion gold jewellery.

In the Americas sales were up 9 percent to $484.8 million and comparable store sales up 7 percent. The Tiffany New York flagship store sales were up 3 percent. In other regions like Japan, sales rose 11 percent to $142.5 million and comparable store sales by 2 percent, Asia-Pacific region sales jumped 23 percent to $138.9 million and comparable store sales by 15 percent, Europe sales rose 13 percent to $114.9 million and comparable store sales by 15 percent. But other sales recorded a 45 percent drop to $7.4 million, which the retailer attributes to an ‘expected decrease in wholesale sales of rough diamonds, which were partly offset by an increase in wholesale sales of finished goods’.