Tiffany & Co. has reported a rise in same-store sales of 4 per cent due to a strong demand in North and South America. As a result of this, the luxury jeweller’s shares rose 5.3 per cent and hit a record high of $108.50.
Sales for the Americas rose by 10 per cent to hit $459 million in the third quarter that ended on October 31.
“I think the marketing, the better in-store execution and the new product lines are what’s really driving the U.S. business,” Edward Jones analyst Brian Yarbrough told Reuters.
The company has reported a high demand for its new collections like Atlas and Tiffany T, which is a line of fashion jewellery that was created by design director Francesca Amfitheatrof and ranges from $350 to $20,000. CJ
Author: Canadian Jeweller Magazine Staff
Canadian Jeweller Magazine Staff is the shared byline for reporting filed by the magazine's editorial desk. Founded in 1879, Canadian Jeweller is the longest running jewellery business publication in Canada, covering market reporting, retail strategy, watches, diamonds, coloured gemstones and the commerce of the Canadian jewellery trade. Work published under this byline is edited and verified by the Canadian Jeweller editorial team in Toronto.
