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Tiffany & Co.’s revenues up 7.8% in Q4
The retailer expects the year to deliver sales growth particularly in Asia-Pacific and in the Americas
By: Diamond World News Service
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Mar 22 2012 12:30PM
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Reference: 6824  

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Tiffany & Co. noted a rise in its revenues both in its fourth quarter and throughout the fiscal year 2011 which ended 31 January 2012. Fourth-quarter revenue were up by 7.8 percent (y-o-y) to $1.2 billion and comparable-store sales globally, increased 8 percent.

in the said quarter, comparable store sales rose 5 percent in the Americas, while same-store sales were up 19 percent in Asia-Pacific, by 12 percent in Japan and in Europe they were up 3 percent. The quarter closed with net earnings dipping 1.7 percent to $178.4 million. Cost of sales was up 9.3 percent to $470.5 million.

In the 12 months closing 31 January 2012, the retailer’s revenues were up 18 percent to $3.64 billion. Net earnings stood at $439.2 million rising 19 percent. Same-store sales across the globe were up 6 percent, in Asia-Pacific they were up 14 percent, in Japan they were up by 12 percent. The comparable-store sales in the Americas increased by 3 percent, and dropped 3 percent in Europe.

Cost of sales at the fiscal year end rose 18 percent to $1.49 billion. Gross margin as a percentage of net sales was 59 percent (59.1 percent in previous fiscal). The retailer closed its year with cash and cash equivalents at $442 million, lower than the previous year when it was $741 million. Debt was higher at $712 million, from $688 million one year ago.

The retailer is looking at a increased sales across the globe with particular concentration in Asia-Pacific and in the Americas, during the ongoing year.

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