Nitheesh NH
Most Recent Quarter (4Q18)
[caption id="attachment_82936" align="aligncenter" width="500"]
Comparable sales were unchanged at constant exchange rates[/caption]
Annual Financial Results
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Last year-end: January 31, 2019.[/caption]
Company Profile
Tiffany & Co. is a global luxury jewelry retailer headquartered in New York and founded in 1837 by Charles Lewis Tiffany and John B. Young. The company designs, manufactures and retails, and gets 91% of its revenues from jewelry sales. Other products include timepieces, sterling, silverware, crystal, stationary, fragrances and accessories. E-commerce, catalog and phone orders represented 7% of total sales in FY15-18.
Strategy
Key strategic initiatives involve amplifying an evolved Tiffany brand message with marketing and PR programs: The company has increased spending on these efforts from 7.6% of sales in FY17, to 8.9% of sales in FY18. New designs and product development are integral to maintaining appeal with existing customers as well as attracting new customers and driving store/web traffic. Investments in technology, marketing communications, visual merchandising, digital and store presentation is expected to generate sustained mid-single digit sales growth and high single-digit EPS growth. Tiffany plans to launch an ecommerce website in China in F19.
Store Fleet and Employees
As of January 31, 2019, the company employed around 14,200 persons, and operated 321 retail stores worldwide; 93 in the US, 31 in Canada & Latin America, 90 in Asia Pacific, 55 in Japan, 47 in Europe and 5 stores in emerging markets. Sales per square foot were $2,800 in FY18. Tiffany operates ecommerce enabled websites in 13 countries.
Revenue Breakdown (2018)
Recent Developments
Management Team
Comparable sales were unchanged at constant exchange rates[/caption]
Annual Financial Results
[caption id="attachment_82937" align="aligncenter" width="700"] Last year-end: January 31, 2019.[/caption]
Company Profile
Tiffany & Co. is a global luxury jewelry retailer headquartered in New York and founded in 1837 by Charles Lewis Tiffany and John B. Young. The company designs, manufactures and retails, and gets 91% of its revenues from jewelry sales. Other products include timepieces, sterling, silverware, crystal, stationary, fragrances and accessories. E-commerce, catalog and phone orders represented 7% of total sales in FY15-18.
Strategy
Key strategic initiatives involve amplifying an evolved Tiffany brand message with marketing and PR programs: The company has increased spending on these efforts from 7.6% of sales in FY17, to 8.9% of sales in FY18. New designs and product development are integral to maintaining appeal with existing customers as well as attracting new customers and driving store/web traffic. Investments in technology, marketing communications, visual merchandising, digital and store presentation is expected to generate sustained mid-single digit sales growth and high single-digit EPS growth. Tiffany plans to launch an ecommerce website in China in F19.
Store Fleet and Employees
As of January 31, 2019, the company employed around 14,200 persons, and operated 321 retail stores worldwide; 93 in the US, 31 in Canada & Latin America, 90 in Asia Pacific, 55 in Japan, 47 in Europe and 5 stores in emerging markets. Sales per square foot were $2,800 in FY18. Tiffany operates ecommerce enabled websites in 13 countries.
Revenue Breakdown (2018)
Recent Developments
| Date | Development |
| Mar 25, 2019 | https://coresight.com/research/tiffany-co-nyse-tif-4q18-results-strong-dollar-hurts-tourist-driven-holiday-sales/ |
| Nov 20, 2018 | Tiffany & Co. introduces the latest addition to its “Believe in Dreams” with a campaign film that takes viewers behind the scenes of a Tiffany workshop. |
- Roger N. Farah, Chairman
- Alessandro Bogliolo, CEO and Director
- Mark Erceg, CFO
- Reed Krakoff, Chief Artistic Officer
Source: Company reports/S&P Capital IQ/Coresight Research
Sector Overview- For context on this company, please refer to our report Sector Overview: Luxury.