Due to Tiffany & Co’s online sales and diamond wholesale, the company’s global revenue increased during the second quarter and first half of 2017. Global net sales rose 3 per cent, with a 2 per cent increase for the beginning of 2017 in comparison to last year.
However, the second quarter and the first half saw a decrease in same-store sales, declining 2 per cent. Similarly, in the Asia-Pacific region, sales increased by 2 and 5 per cent compared to last year, but declined in same-store sales by 7 to 5 per cent.
According to Tiffany & Co’s financial statement, the rise in sales is owed to diamond wholesale, e-commerice growth, and fashion trends.
“Management noted an increase in wholesale sales of diamonds, increased wholesale sales in the Asia-Pacific region and strong e-commerce sales growth,” says the statement. “Overall, growth in fashion and designer jewellery sales contrasted with softness in other jewellery categories.”
