Tiffany & Co. announced the results of sales in the two-month period of the winter holidays, which ended on December 31, 2014. The company's revenue for all countries was $ 1.02 billion, which is 1 percent less than a year ago.
"Sales in the holiday season, of course, generally disappointed and showed a wide range of results by region and by product category," said Michael Kowalski, chairman and CEO of the company.
He noted that "trade in the Asia-Pacific region showed significant growth, sales in Japan were still weak, in Europe - well-grown in local currency, and in the Americas - slightly decreased after a strong start in 2014."
Total sales of Tiffany & Co. on the American continent accounted for almost 50% of the company's entire holiday revenue and totaled $ 544 million, down 1 percent from 2013.
Sales in the Asia-Pacific region increased by 7 percent and reached $ 210 million. The most active sales growth was shown by China and Singapore.
In the past year the company opened 10 new stores, including the first boutique in Moscow. As of the end of 2014, Tiffany & Co has 296 stores all over the world.