Tiffany & Co.:Mark L. Aaron, 212-230-5301Mark.aaron@tiffany.comORLinda Buckley, 212-277-5900Linda.buckley@tiffany.comORCaruso Affiliated:Karen Diehl, 310-396-2400Kdiehl@cswpr.comTiffany & Co. (NYSE: TIF) today Tiffany Key plans to open a smaller-format store in Glendale, California, in mid-October 2008. The approximately 2,600 square foot store will be located in The Americana at Brand, a new 900,000-square foot retail and residential environment developed by Caruso Affiliated. Covering 15.5 acres that are beautifully landscaped with fountains, plazas and walkways, the expansive property is designed as an ultimate lifestyle and leisure destination, with shops and boutiques, casual cafes, fine dining, and luxury residences.The store's clean, ultra modern environment invites relaxed browsing and interaction with contemporary TIFFANY & CO. collections, ranging from diamond jewelry in platinum and gold to an array of sterling silver jewelry. In this atmosphere of easy elegance and accessibility, visitors will discover the new and the renowned in TIFFANY & CO. design, strong statements at fashion's leading edge that underscore Tiffany's reputation as a premier jeweler and innovator. In addition, the collections allow customers to experiment Tiffany Key Ring designs responsive to fashion trends and create different looks to play up personal style."This exciting new concept is simply a new way of looking at Tiffany, and The Americana at Brand is the ideal location to unveil it," said Beth O. Canavan, executive vice president of Tiffany & Co. "The property has the feeling of an upscale community with a chic fashion district that will complement our sophisticated store design and jewelry assortment that is up-to-the-minute in style. At the same time, the store architecture and jewelry collections reflect our great tradition of quality and craftsmanship -- familiar aspects of the TIFFANY & CO. shopping experience that we look forward to delivering to our many customers in the important Los Angeles market."
"We are pleased to be the first retail environment in the world to unveil this new concept shop by Tiffany & Co.," stated Rick J. Caruso, CEO of Caruso Affiliated. "Rich in history and true luxury, Tiffany & Co. is simply the finest purveyor of diamonds, jewelry, and gift items."Tiffany & Co. operates jewelry and specialty retail stores and manufactures products through its subsidiary corporations. Its principal subsidiary is Tiffany and Company. The Company operates TIFFANY & CO. retail stores and boutiques in the Americas, Asia-Pacific and Europe and engages in direct selling through Internet, catalog and business gift operations. Other operations include consolidated results from ventures operated under trademarks or trade names other than TIFFANY & CO. For additional information, please visit www.tiffany.com or call our shareholder Tiffany Set line at 800-TIF-0110.Caruso Affiliated is known for creating open-air community and regional retail environments that serve as fashionable local gathering places. Caruso's style has become a recognized brand within the retail industry and with California residents and visitors. The success of the company's stylish and elegant outdoor environments has challenged the traditional "mall" concept and continues to set a new standard in the industry. A recognized leader in this trend, Caruso Affiliated's growth is approximately two times that of the largest publicly traded REITs and sales per square foot at Caruso properties are 75 percent higher than the industry average.
In addition to The Americana at Brand, other projects in development include The Shops at Santa Anita in Arcadia, CA and the company's first luxury destination resort in Montecito, CA, with the recent acquisition of the historic Miramar Hotel. Caruso Affiliated's portfolio of top performing retail properties includes The Grove in Los Angeles, the Waterside, Marina Del Rey, The Promenade at Westlake, The Lakes at Thousand Oaks, and The Commons at Calabasas. For Tiffany Watch information, please visit www.carusoaffiliated.com.Mississippi and Michigan, and has 50% investments in four other properties in Nevada, New Jersey, Illinois and Macau. MGM MIRAGE is developing major casino and non-casino resorts, separately and with partners in Las Vegas, Atlantic City, the People's Republic of China and Abu Dhabi, U.A.E. MGM MIRAGE supports responsible gaming and has implemented the American Gaming Association's Code of Conduct for Responsible Gaming at its properties. MGM MIRAGE has received numerous awards and recognitions for its industry-leading Diversity Initiative and its community philanthropy programs
Tiffany Appeals eBay Trademark RulingThe bell rang for the appeal round of the legal bout between Tiffany & Co. and eBay Inc.In a move the luxury jeweler signaled it would make, Tiffany said it is appealing a federal court ruling last month that eBay could not be held liable for trademark infringement of Tiffany merchandise.Judge Tiffany Key on sale Sullivan ruled that the giant online auction house does not have the legal responsibility to prevent the sale of counterfeit goods, and that Tiffany has the burden of policing its trademark."Unfortunately, the trial court incorrectly held that trademark holders and not eBay are responsible for policing the eBay site," said Tiffany general counsel Patrick Dorsey. "In our view, this approach makes no sense as a matter of law or policy. Once eBay has reason to know that a specific brand like Tiffany & Co. is being widely counterfeited and sold, eBay should be compelled to investigate and take action to protect its customers andthe illegal conduct."However, Sullivan found that eBay could not be held liable for trademark infringement based solely on its general knowledge that counterfeit goods might be sold on the site. Tiffany filed the suit in 2004 after it found dozens of fake products Tiffany Key Ring on sale its name for sale on eBay.The Conference Board of Canada also announced in October that consumer confidence had gained some ground. "Increased optimism regarding future job prospects was the main driver behind the increase," said Peter Hall, director of economic forecasting.
"Tiffany's decision to carry the litigation on after the district court's decision doesn't do anything to combat counterfeiting," eBay spokeswoman Catherine England said. "The best way to stop counterfeiting is ongoing collaboration between companies, government agencies and law enforcement."EBay has been at the center of two closely watched cases involving counterfeit luxury brands this year. In June, a French court found the Web site guilty of gross misconduct for its part in the sale of counterfeit goods from brands owned by LVMH Moet Hennessy Louis Vuitton. The court ordered eBay to remove all auctions involving LVMH goods and pay compensation totaling 38.9 million euros., or about $58.4 million at current exchange. A Tiffany Set on sale of appeals upheld the decision two weeks later.The U.S. case is being closely watched by brand owners and others in the intellectual property community because if it is overturned on appeal it has the potential to cause havoc to eBay's business model and open the popular Internet retailer to litigation from other labels.Luxe Brand Smackdown: Tiffany Loses to eBay In Fight Over Fake GoodsEbay's business model has been validated -- at least on one side of the Atlantic.After a victory last month in France, luxury brands and other labels sold on eBay in the U.S. were dealt a major setback Monday in their battle with online counterfeiters. A federal judge in Manhattan, ruling in a trademark lawsuit filed four years ago by Tiffany & Co., said the giant online auction house does not have the legal responsibility to prevent the sale of counterfeit goods.At the same time these results were announced, analysts quoted in the New York Times in late October predicted a turnaround for the US$63-billion global market in luxury goods, forecasting 2003 year-end results for luxury companies increasing by 10% to 20%. It noted that the share price for Tiffany had risen by 4% by the end of the third quarter and that the share price of Bulgari had doubled.
In what is believed to have been the first lawsuit of its kind in the U.S., Tiffany had sought to shift the responsibility for policing a trademark from brand owner to eBay. However, Judge Richard Sullivan ruled that it is the burden of Tiffany, not eBay, to maintain and enforce its mark. EBay fulfilled its legal obligations by taking adequate precautions to block the sale of fakes, Sullivan concluded."The rapid development of the Internet and Web sites like Tiffany Watch on sale have created new ways for sellers and buyers to connect and to expand their businesses beyond geographical limits," Sullivan wrote in his 66-page decision. "These new markets have also, however, given counterfeiters new opportunities to expand their reach."The court is not unsympathetic to Tiffany and other rights owners who have invested enormous resources in developing their brands, only to see them illicitly and efficiently exploited by others on the Internet," he continued. "Nevertheless, the law is clear: it is the trademark owner's burden to police its mark and companies like eBay cannot be held liable for trademark infringement based solely on their general knowledge that trademark infringement might be occurring on their Web site."
Tempering sales growth this year will be Japan, which still accounts for more than a quarter ofTiffany's business. Japan in April instituted a 3% to 5% consumption tax, which is expected to put a Tiffany Bangle crimp in the stunning sales gains of the past few months, says Furman Selz analyst Kim Walin. Nevertheless, she puts Japanese sales growth at a solid 8% to 9% for the remainder of the year.Back in the United States, Tiffany may need to pay more attention to its flagship New York store, which rang up sales gains of just 3% in the first quarter, below that of most other outlets.The company's declining wholesale and catalog business needs shoring up, too. Eileen Gormley of Donaldson Lukin & Jenrette says sales of corporate gifts are still suffering from downsizing and consolidations in the United States.But others note that Tiffany should be able to speed up growth as it makes the switch later this quarter to an automated, paperless distribution system.TIFFANY & CO. MAY BE WORTH its weight in gold. But with its shares trading close to a 52-week high, the stock's ability to shine more seems limited.The purveyor of fine jewelry has come far since it was hit by the recession in the United States and then by a weakening economy in Japan. Domestic sales have been on the rebound for three years, and Tiffany's Japanese operations made a strong recovery last year, with comparable-store sales up a surprising 26%. The gain helped drive up first-quarter earnings by 75% to $8.88 million, beating most analysts' Tiffany Ring by a solid 6 cents a share.But Tiffany's turnaround has been no secret among investors, who've driven the stock above $45 a share, or 20 times expected 1998 earnings. That puts the stock on par with its growth rate, which is "right where it should be," says Amy Ryan, who follows Tiffany for Prudential Securities Inc. Her rating on the stock is "hold."Stock market ratios aside, the outlook remains sterling for the 160-year-old retailer.
Four stores will open in the United States this year, and five to six boutiques will be added in the Asia-Pacific markets, for a worldwide total of 108 outlets. With 24 stores in the United States, Tiffany is no longer as dependent as it once was on sales in Japan and on Japanese tourists in New York.Led by Chairman William Chaney, Tiffany has also broadened its appeal to middle-class shoppers without sacrificing its upper-crust image. Its average sale these days adds up to just $260, and items costing $50,000 and up account for only 5% of sales. The decision to go after less-affluent buyers has boosted total sales by an average of 17.6% in each of the past three years and to $922 million last year. Earnings, which grew 34% in 1995 and 49% in 1996, are expected to climb another 25% this year to $72.9 million, or $2 a share.Tempering sales growth Tiffany Pendant year will be Japan, which still accounts for more than a quarter ofTiffany's business. Japan in April instituted a 3% to 5% consumption tax, which is expected to put a slight crimp in the stunning sales gains of the past few months, says Furman Selz analyst Kim Walin. Nevertheless, she puts Japanese sales growth at a solid 8% to 9% for the remainder of the year.Back in the United States, Tiffany may need to pay more attention to its flagship New York store, which rang up sales gains of just 3% in the first quarter, below that of most other outlets.The company's declining wholesale and catalog business needs shoring up, too. Eileen Gormley of Donaldson Lukin & Jenrette says sales of corporate gifts are still suffering from downsizing and consolidations in the United States.
Tiffany & Co. posted a 75% jump in fiscal first-quarter earnings on substantial sales increases in the U.S. and abroad, particularly in Japan. The jewelry retailer, based in New York, said net income for the quarter ended April 30 soared to $8.9 million, or 25 cents a share, from $5.1 million, or 15 cents a share, a year earlier. Sales increased 10% to $199.7 million. The results easily surpassed First Call estimates of 19 cents a share. The news helped lift Tiffany's shares, which rose 50 cents to $43.875 in New York Stock Exchange composite trading. Tiffany attributed its Tiffany Note results to a 9% increase in U.S. sales to $87.7 million and a 17% gain in international sales to $95.2 million. In Japan, Tiffany's largest international market, total retail sales rose 29%.Tiffany & Co. is coming to Cherry Creek. The upscale jeweler will open a 6,000-square-foot store as part of Cherry Creek shopping center's plan to redevelop the mall space currently occupied by Lord & Taylor. The redevelopment plan, reported in The Denver Post last year, calls for demolition of the current Lord & Taylor and the vacant Columbia Savings building and filling the space with up to the dozen new shops and restaurants. Lord & Taylor will move into a w building next to Clayton Street, where parking spaces are currently located.Tiffany & Co declared a 2-for-1 stock split and raised its quarterly dividend effective Jul 23, 1996 to holders of record on Jun 28. Tiffany said that on a post-split basis its dividend will be five cents a share compared with seven cents a share on a pre-split basis.
The closure of an entire mall is unprecedented, especially at such a critical time for retailers -- the start of the holiday shopping season, he said.This season is predicted to be the best Cheap Tiffany Necklace 2007, with spending projected to increase 2 percent to 3 percent over last year, Kraus said.Shopping habits revolve around two factors -- convenience and a mix of stores. Because Roseville is home to the only local stores of high-end chains such as Crate & Barrel, Louis Vuitton, Hugo Boss, Lacoste and Tiffany & Co., shoppers will head to other regional centers or turn to the Internet, Kraus said."Will more people shop online? Absolutely -- that's the trend," he said."This may just accelerate that trend a little bit faster."Arden Fair has been busier than usual since the fire, but that could be attributed to the region's first seasonal soaking -- which drives people indoors and prompts them to buy winter gear, said mall spokeswoman Jennifer Prouhet."I'm sure we're seeing some impact from the Galleria, but it's hard to determine an exact breakdown for an increase," she said.Sunrise Mall in Citrus Heights reports numbers at the end of the month, but general manager Christi Woodards estimated the number of shoppers over the weekend was up about 25 percent.Westfield, which owns the Galleria as well as the Downtown Plaza, wouldn't comment on numbers at its Sacramento Cheap Tiffany Money Clip as a result of the fire and said the shopping centers don't correlate."You're comparing a suburban enclosed center to an open-air center when it was pouring rain," said spokeswoman Katy Dickey."That's like comparing apples to oranges."Michael Ault, executive director of the Downtown Sacramento Partnership, said it's too early to know the impact of the Galleria closure but that people definitely sought out other shopping centers when the Downtown Plaza was renovated in recent years.
"When something like this does happen, it gives people an incentive to search out options that they might not have otherwise considered," he said.Jacquelyn Ross, 16, shopped at Arden Fair for her Christian Brothers homecoming dance and found a strapless black-and-white lace dress at Jessica McClintock.She had originally planned to shop at the Galleria: "It's much bigger and has more variety," she said.Imani Whitfield, 18, usually goes to the Galleria about every other weekend -- attracted by the selection, she said.On Tuesday she went to Arden Fair instead, her first visit since at least May, to find her newly enlisted Navy husband an anniversary gift. She designed a blue-uniformed bear for him but misses herusual haunt."I can't Cheap Tiffany Key until Roseville opens," she said.To see more of Beaver County Times, Pa., or to subscribe to the newspaper, go to http://www.timesonline.com. Copyright (c) 2010, Beaver County Times, Pa. Distributed by McClatchy-Tribune Information Services. For more information about the content services offered by McClatchy-Tribune Information Services (MCT), visit www.mctinfoservices.com, e-mail services@mctinfoservices.com, or call 866-280-5210 (outside the United States, call +1 312-222-4544).Oct. 27--BEAVER FALLS -- Two women remained hospitalized Tuesday after they were struck by a car in Beaver Falls the day before.City police said a car driven by Tiffany Hubbard, 17, of Beaver Falls slid on wet pavement around 4:45 p.m. Monday on the 11th Street hill and struck a utility pole. It is unclear whether Hubbard was injured in this crash, but she was able to get out of her car on her own.
As she walking along the road, she was joined by Patricia Cahalan, 46, of Beaver Falls and Cathy Smith, 52, of Georgetown, who stopped their vehicle and got out to help Hubbard, police said.As they were standing along the road, though, a car driven by Steven White, 18, of Wampum slid into the disabled vehicle and pushed it into the women, who were knocked down, police said.White was not injured, but Hubbard was flown by medical helicopter to a Pittsburgh hospital. Cheap Tiffany Key Ring initially was taken to Heritage Valley Beaver hospital in Brighton Township and then transferred to a Pittsburgh hospital. Condition reports were unavailable Tuesday afternoon.Smith was treated at Heritage Valley Beaver and released, a hospital spokesman said.A power outage was reported for a short time from 11th Street in Beaver Falls to 17th Street in Patterson Township after the initial crash.Police said they were not expecting to file any citations in the crashes as they appeared to be weather-related accidents.Credit: Beaver County Times, Pa.In today's unsure markets these brief PriceWatch Alerts contain concise detailed strategies for each covered stock and include position protection tactics designed to potentially defend investors from unexpected market shifts.
Minnesota State Senator Satveer Chaudhary (D-Fridley), said he received racially motivated hate mail and a death threat in an anonymous letter.In a press release the Senator's office at the State Tiffany Earring for sale said it recently received a letter sent under a false name questioning his legislative record, attacking his family's Indian-American heritage and making a crude death threat.The letter, which is being investigated by State Qipitol Security, the Minnesota State Patrol and the Fridley Police Department, was written using recent advertisements placed by opponents of marriage law amendments."My conscience and my principles are strengthened in the face of such cowardly behavior," said Sen. Chaudhary, who has spoken for equal rights for gays."The disturbing pan of this story for me is the fact that anti-gay groups, such as the ones placing these advertisements, have decided to use hate speech as a political tool to divide Minnesotans," Chaudhary asserted.The letter asked if Sen. Chaudhary spent his rime at the Capitol, "earing curry all day," and included a photo of the senator with what appears to be a bullet hole drawn on his forehead. The letter included a return address and name that was investigated by Capitol security and determined to be false, the release said."It is my hope that Minnesotans will reject these blatant attempts to drive a wedge between the people of our state and not sink to their level of discourse," Sen. Chaudhary said.n a clinical trial of over 48,000 post-menopausal women, a low-fat Tiffany Key Ring for sale that includes increased consumption of fruits, vegetables, and whole grains is not associated with weight gain, according to a new study.In the study, researchers examined long-term data on the relationships between weight changes and specific changes in dietary components and macronutrient composition. The data were from a study that was designed to examine the long-term benefits and risks of a dietary pattern low in fat, with increased vegetable, fruit and grain intake, on breast and colorectal cancers and cardiovascular disease in postmenopausal women.
Between 1993 and 1998, 48,835 post-menopausal women were randomly assigned to either a low-fat dietary intervention or self-selected dietary control group.The data included body measurements and nutrient data through August 31,2004, with an average follow-up of 7.5 years.Forty per cent of the participants were randomised to the intervention and 60 per cent to a control group.The intervention included group and individual sessions to promote a decrease in fat intake and increases in vegetable, fruit and grain consumption and did not include weight loss or caloric restriction goals. The control group received diet-related education materials.Employee-centric television ads are an ongoing effort by Wal-Mart to shape its image as earing employer, not just discounter. Wal-Mart has come under fire thanks to a flurry of labor lawsuits and a public Tiffany Key for sale that it offers subpar jobs. Wal-Mart's national ads featuring workers singing the praises of its benefits and promotion practices are a large-scale example of what is becoming a marketing phenomenon in the business world. Firms of all sizes are turning to their own employees to become company spokesmen, touting not only the products and services they sell, but the glories of their jobs. The practice is seen as everything from a morale booster to a recruitment tool. In the case of Wal-Mart, it's a way to buoy a battered image. Some image experts believe these ads are a good way to create good will among the rank and file.In another TV ad, a woman who is a general transportation manager at Wal-Mart says, "If you're willing to develop yourself, the opportunity is going to be out there for you to grow in your career."
The commercials, part of a series of employee-centric ads that began airing in late 2003, are an ongoing effort by Wal-Mart to shape its image as earing employer, not just discounter.Wal-Mart has come under fire thanks to a Hurry of labor lawsuits and a public perception that it offers subpar jobs. "We found that there were misconceptions out there, and when presented with the tacts, people change their opinions," says Tara Stewart, a Wal-Mart spokeswoman.Wal-Mart's national ads featuring workers singing the praises of its benefits and promotion practices are a large-scale example of what is Tiffany Money Clip for sale a marketing phenomenon in the business world.Firms of all sizes are turning to their own employees to become company spokesmen, touting not only the products and services they sell, but the glories of their jobs. The practice is seen as everything from a morale booster to a recruitment tool. In the case of Wal-Mart, it's a way to buoy a battered image.Such ads can circumvent negative employee morale, preventing gossip and innuendo during challenging times, says Allan Steinmetz, CEO of Inward Strategic Consulting Inc. in Newton, Massachusetts.At Wal-Mart, he says, "they are putting out the facts about their HR policies. And it's a good external marketing tool. People want to shop in a place where they think people are being taken care of, while at the same time bringing you good will among your own employees."
European jewelry brands are also taking advantage of changing bridal customs in their home countries. Van Cleef & Arpels, which also belongs to Compagnie Financiere Richemont, this year Tiffany Necklace sale a "bridal bar" in its Paris flagship. Salespeople serve Champagne and chocolate. The store stays open late to cater to young executives, among the major buyers of diamond engagement rings.Boucheron, part of Gucci Group, the luxury division of France's PPR SA, says the pink-gold rings it offers at its boutique on Place Vendome in Paris sell well to local customers who want to mix the French tradition of color with the diamond-solitaire trend.Chinese couples are the latest to be smitten with diamond bridal jewelry. In April, Cartier started rolling out its bridal salons to its 14 stores on mainland China.Miao Miao, a 25-year-old marketing assistant manager for a Hong Kong-based airline, bought a pair of Cartier "Love" rings as wedding bands for herself and her partner, at $1,720, at a Hong Kong boutique this year. She says Cartier's ads portraying the ring as a symbol of love influenced her. "The legend says the finger links to heart," the newlywed says. "So wearing a wedding ring can always remind you of your commitment to your marriage."People inside the company debated the problem for months. "Some people would look at it one way and say, 'If every 16-year-old her silver jewelry from Tiffany, Tiffany Note sale eventually want their engagement ring from Tiffany 10 or 20 years later,'" says Mark Aaron, Tiffany's vice president of investor relations. But "what if some of those teenagers fill up their jewelry boxes with Tiffany silver, and as they get older, they perceive Tiffany as where they got their teenage jewelry?"At the Tiffany store in New Jersey's Mall at Short Hills, the main entrance still leads shoppers to counters housing its jaw-dropping fine jewelry.
But just aside, a private viewing room was added with a ready stock of chilled water and champagne. "We wanted to create an environment that was more intimate," says Elisabeth Ames, a Tiffany vice president. A side entrance was also added to lead "transactional" shoppers directly to the counters of Tiffany's silver jewelry. Other Tiffany stores have undergone similar renovations.Some high-end shoppers have not yet been lured back into Tiffany stores. Barbara Graffeo has a jewelry box full of Tiffany pieces. But, she says, "I don't wear them anymore because everyone Tiffany Pendant sale them now." The 46-year-old owner of a New York apparel company adds, "You used to aspire to be able to buy something at Tiffany, but now it's not that special anymore."In the late 1990s, Tiffany & Co.'s silver charm bracelet was a must- have fashion accessory. Teens jammed Tiffany's hushed stores clamoring for the $110 silver bauble. Sales skyrocketed, investors cheered.Tiffany's managers worried. They knew the bracelet had become a fad, one that could alienate the jewelry firm's older, wealthier, and more conservative clientele. Worse, it could forever damage Tiffany's reputation for luxury."The large number of silver customers did represent a fundamental threat -- not just to the business but to the core franchise of our brand," says Tiffany CEO Michael Kowalski.
So in a dramatic gamble, Tiffany decided to kill its golden goose. In 2002, the firm began hiking prices on its fast-growing, highly profitable line of cheaper silver jewelry. It simultaneously introduced pricier jewelry collections, renovated stores and showed off its craftsmanship by highlighting spectacular gems like a $2.5 million pink diamond ring.Like a growing number of publicly traded luxury-goods makers, Tiffany is attempting to walk a razor-thin line: Tiffany Ring sale offerings to the upper-middle-classes while pitching privilege to the truly rich. The dilemma is particularly common these days, as investors clamor for sales growth on one side and fickle luxury buyers demand exclusivity on the other.Other purveyors of designer wares have stumbled trying to satisfy both groups. Burberry Group PLC, the venerable British fashion house, plastered its iconic tan plaid on everything from dog collars to headbands, only to struggle with the resulting overexposure.Wealthy consumers aren't as loyal as they used to be. "Even though we're seeing more millionaires than ever, they now have lots of choices on how to spend their money," says Arnold Aronson, a managing director of consulting firm Kurt Salmon Associates and former CEO of Saks Fifth Avenue.