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Tiffany reports increase in holiday sales

January 2005


Net holiday sales at Tiffany & Co. jumped 12 percent from 2003 to 2004, representatives of the company announced in a conference call with investors and the press last week.

Sales from Nov. 1 to Dec. 31 totalled about $674 million. U.S. retail sales increased 11 percent to $340 million for the holidays, with same-store sales increasing 8 percent over the same period last year.

Sales in all jewellery categories performed well, with pieces from the new Atlas collection proving extremely popular, says Tiffany spokesman Mark L. Aaron. The company also saw robust sales in gift cards and products priced above $500.

“The higher end was especially strong with diamond jewellery and engagement rings performing brilliantly,” Aaron says.

Internationally, the company performed well, although sales continue to lag in Japan.

“We are generating considerable excitement and enthusiasm among customers and are pleased with these results,” says James Fernandez, company executive vice president and chief financial officer. “It was a busy holiday season, and the Tiffany organization performed very well.”

Source : National Jeweler Daily News

www.nationaljeweler.com

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