iStock/Thinkstock(NEW YORK) – BBC News reports one retail expert calls Tiffany & Co.’s growth “patchy” after analyzing its reported earnings between November and January of this past year.
The high-end jewelry firm saw its sales increase by 1.3% in the fourth quarter, thanks in part to increased sales in Japan and China. However, its net sales declined 3% over the past four quarters compared to the previous year’s (net earnings were $446 million in 2016 and $464 in 2015).
The company called its performance “soft across all jewelry categories.”
Sales at its flagship store in New York, which BBC News reports can sometimes count up to as much as 10% of its group sales, could increase now that President Donald Trump has moved to Washington. With extra security at the Trump Towers, which the flagship store sits closely to, access has been disrupted. First Lady Melania and son Barron still live in Trump Towers in New York.
According to BBC News, Neil Saunders, managing director at Managing Director of GlobalData Retail, says American consumers continue to overlook Tiffany & Co. and recognize its products as “old-world luxury.”
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