Luxury jeweller Tiffany recorded double-digit sales growth in Europe in the three months to October 31, driven in part by the opening a store in at Selfridges in Manchester. European sales rose 12% to $65m (£39.2m).
However, the retailer struggled in the US, which accounts for more than half of its total sales. Like-for-like sales dropped 10% and total sales fell 9% to $303.5m (£183.1m).
Tiffany chairman and chief executive Michael Kowalski said: "We were pleased to see that the rate of sales declines in the US lessened as the quarter progressed. At the same time, many countries in Asia-Pacific and Europe achieved considerably better-than-expected sales. These results, combined with ongoing expense restraint, contributed to earnings above our prior expectation."
In the UK, Tiffany has eight stores in London in addition to the newly opened Manchester boutique. It also has a concession in upmarket department store Brown Thomas in Dublin.
Pictured: Rings by Jean Schlumberger for Tiffany & Co with diamonds, green tourmaline, tanzanite and pink tourmaline
Posts
No comments:
Post a Comment