Jewelry retailer Tiffany & Co. notes the annual growth of holiday sales by 4% to $ 1.03 billion during the Christmas season in November and December 2013, Rapaport reports. Sales in comparable stores Tiffany showed an increase of 6%.
Revenue from sales of jewelry retailers in the Americas region increased over the reporting period by 6% to $ 550 million, sales in comparable stores increased by 7%. Revenues from sales in the Asia-Pacific region increased by 5% to $ 196 million against the backdrop of stable sales in comparable stores.
Sales of Tiffany in Japan fell by 12% to $ 135 million, due to a weaker yen, while sales in comparable stores in Japan jumped by 10%. Sales in Europe grew by 11% to $ 131 million, while sales in comparable stores grew by 3%.
CEO of Tiffany & Co. Michael J. Kowalski said that the festive season was successful and the overall sales results met the expectations of the company, noting that there was a growth in sales for a number of product categories.
Fiscal year Tiffany & Co. will end on January 31, 2014, and the company expects earnings per share of $ 1.27 - $ 1.37 compared to $ 3.25 a year earlier, which is due to losses caused by the arbitration court decision in the proceedings with the Swatch Group.