Prep-school styles dominated the -runways, but there's a fine line between rocking a cool, classic vibe and -causing a bad L.L.Bean flashback. Here's how to put the naughty in naughty schoolgirl tiffany time.Duck-Boot PumpsWe never thought we'd call boat shoes sexy...until these retro kicks got a flirty update with super-high heels.Blouse, $248, pants, $248, belt, $128, and boots, $298, Tommy HilfigerOversize Rugby ShirtStep one: Push up sleeves.Step two: Put belt at waist.Step three: Take your pick of lab partners.(On her) dress, A.P.C, $225; belt, 213 Industry, $85; necklace, Kara by Kara Ross, $260; gold bracelets, Barbara D'Oro; leather cuff, CC Skye, $185. (On guys, from left) shirt, $115, and blazer, $498, GANT; pants, Brunello Cucinelli; sweatshirt, Relwen; shirt, GANT, $115; pants, DevelopmentPinstripe TrousersBalance out masculine pants with a sheer, girlie blouse for an effect that's as sensual as it is elegant.Blouse, $650, and pants, $695, Marc Jacobs; belt, $295, and bag, Gucci; necklace, Emily & Ashley; ring (on left hand), Jewels of Ocean; ring (on right hand), Helen Ficalora; journal, $82, Tiffany Bangle for sale diary, $89, and pen, $40, Graphic ImageMilitary JacketTo show off your curves, belt this trendy topper over a sleek pencil skirt.Blazer, GANT, $585; belt, Raoul, $90; skirt, Plastic Island, $115; bracelets (from top), CC Skye, $155; Rebecca Minkoff, $78; A.V. Max, $40BEAUTY TIP: Don't lose your beachy glow come fall. Illuminate with a tinted moisturizer, like Aveeno Positively Radiant SPF 30, $15.Boyfriend PoloPop the collar and undo the buttons and the prep-school staple suddenly exudes irresistible confidence.Jacket, $295, top, $195, and skirt, $175, Cynthia Steffe; belt, Forever 21, $4.50; necklace, Helen FicaloraSenior fashion editor: Heather PfaffHair: David Cruz for Redken/Cutler at raybrownpro.comMakeup: Susan Giordano for Dior Beauty at Kramer + Kramer
Photographed on the campus of Yale University, locations.yale.eduSee page 266 for shopping information.Shrunken VestWhen matched with an oxford, this look hits the perfect note of sophisticated yet sassy.(On her) vest, L'Agence, $290; shirt, American Eagle Outfitters, $39.50; shorts, Eryn Brinie, $100; socks, $12, Ilux; shoes, Louis Vuitton; gold bracelet, Gucci; leather cuff, CC Skye, $155. (On guys, from left) sweater, Tommy Hilfiger, $128; jeans, GANT by Michael Bastien, $195; belt, American Eagle Outfitters; shoes, Frye, $198; watch, Fossil, $115; cardigan, Tommy Hilfiger, $248; polo shirt, $88, button-down shirt, $141, and pants, $187, Caulfield Preparatory; shoes, Clarks; shirt, $98, and henley, $89, Polo Ralph Lauren; jeans, Tiffany Bracelet for sale Denim, $187; shoes, Red Wing Shoes, $260BEAUTY TIP: Attract a following (of seriously hot men) with a musky, head-turning scent, like Adidas Moves Pulse Her, $25.ShoppingTHE NEXT STEPCREDIBILITY BY THE TON, AND OTHER THINGS YOU'LL FIND IN STORES THIS FALLThe future of men's retail, says Tom Kalenderian, executive vice-president for men's wear at Barneys New York, began about five years ago. "Young American men started buying American clothes," he says. "There was suddenly this enthusiasm for Americana -- it was all about prep and trad, and we were there selling Thom Browne, Scott Sternberg [of Band of Outsiders], and a lot of smaller American labels." Then, Kalenderian says, "they started shopping for things like Woolrich buffalo jackets -- clothes with idiosyncratic concepts or great histories behind them."
And now, he says, they've taken a leap toward European brands that are similarly idiosyncratic or offbeat. For Kalenderian that means Brits like Nigel Cabourn, Margaret Howell, and Oliver Spencer, and Italians like C. P. Company and Belstaff, and he and his team have overhauled the fourth floor of Barney's Madison Avenue flagship, once Tiffany CuffLink for sale terrain of tailored clothing, to shine a greater light on this authentic breed of men's sportswear. "These are brands that have credibility by the ton. It's not just about reviving vintage but reinventing items like a peacoat that have always belonged in a guy's wardrobe."It's a new direction for Barneys, or at least the next step for high-end men's stores, and you can see (and wear) it for yourself with these three brands. For more, visit barneys.com.NIGEL CABOURNWaterproof cotton-and-hand-stuffed-down parka with coyote-fur trim ($2,985), wool turtleneck ($315), and cotton-and-wool trousers with braces ($665) by Nigel Cabourn; leather boots ($435) by Alden.
Rebels in African countries mined diamonds to finance their insurgencies throughout the 1990s, but American jewelry companies didn't understand what the practice had to do with them until late 1998. Tiffany Earring on sale was when Global Witness, a London-based human rights organization, issued a report detailing the trade in "conflict diamonds" and the death and destruction it had caused in Angola."I was stunned," recalled Tiffany & Co. CEO Michael Kowalski. "We had a vague understanding that this was going on in some countries, but we never connected the dots."Kowalski grasped almost immediately that as nongovernmental organizations and the media spread the word, conflict diamonds could quickly become as controversial as fur clothing. He knew he had to react fast, before any consumer campaign got that far. "We're aware of our brand standing," Kowalski said. "If people are going to look to us for leadership, they are also going to hold us responsible as a target. It wasn't hard for us to imagine the NGO community focusing on us."Tiffany subsequently played a major role in establishing a system adhered to by trading countries and the jewelry industry to keep conflict diamonds out of the legitimate diamond supply. The company went further by instituting its own controls and in fact was recognized by Global Witness in April as having the most promising policy against Tiffany Key Ring on sale diamonds among 31 American jewelry retailers surveyed.How much it cost one of the world's best-known jewelers to take an aggressive stance toward conflict diamonds is unclear, but the alternative would almost certainly have been expensive. Even before human rights groups began to stage protests outside Tiffany stores in late 2000, Kowalski secured guarantees from his handful of suppliers that they were, to the best of their knowledge, selling him legitimate diamonds.
"We did some research with our customers and there was very little awareness," he recalled. "What we did find was that when people were educated about it, they did become concerned. In the absence of any sort of action on our part, we knew it had the potential to become catastrophic."In 2000, the World Diamond Council, an industry group, estimated that 4 percent of the world's diamonds came from conflict areas, but estimates are necessarily hazy. A diamond passes though so many hands as it is mined, cut, polished, turned into jewelry, and sold that it is virtually impossible, without scientific analysis, to trace a stone back to its source. Kowalski, who has been CEO since 1983, thought Tiffany was selling very few conflict diamonds in the first place, in large part because the company needed the sort of steady supply that he said only pit mines Tiffany Key on sale provide. Pit mines are expensive operations usually run by government-sanctioned companies, while conflict diamonds tend to come from riverbanks where wildcatters connected to rebel groups prospect.But given the complex nature of the trade and the virtual untraceability of individual diamonds, Kowalski, along with other jewelers, middlemen, and countries that trade in diamonds, knew they had to establish global controls. The result was the Kimberley Process (named after the South African city in which the accord was signed), which went into full effect in July 2003. Countries that export rough diamonds certify that each bag they ship derives from a legitimate source. The other countries in the accord can only import certified diamonds. A related agreement among diamond traders, polishers, and jewelers stipulates that each batch of diamonds must come with an invoice on which is stamped a guarantee of certification.
Human rights activists are not entirely convinced the Kimberley Process is effective, as its strongest controls apply only to rough diamonds. Dealers and jewelers are only supposed to buy cut and polished stones that are guaranteed Kimberley-certified, but no independent monitors check the veracity of those warranties or whether companies ever trade outside the system."We do want to see the industry go beyond self-regulation, which is what it comes down to right now, and have some sort of auditing procedure to make sure the system of warranties is working," said Corinna Gilfillan, a Tiffany Money Clip on sale for Global Witness. Still, Gilfillan applauded in July when the Democratic Republic of the Congo was suspended from membership after Kimberley Process inspectors found that the nation's exports far outstripped the number of diamonds it could have obtained through mining.A spokeswoman for Tiffany said the company believes that the Kimberley Process is still in the early stage, and should be evaluated by all stakeholders. "If it appears that certain changes are necessary, Tiffany & Co. will lend support," she said.Since the Kimberley Process applies to all jewelers equally, no one should have a competitive advantage. Tiffany's major costs, Kowalski said, stem from its efforts to acquire diamonds from Canada, which began before the controversy over conflict diamonds erupted but will help flush them out of the company's supply system.
TJX reported net of $30.1 million, or 33 cents a share, up from earnings from continuing operations of $9.5 million, or 11 cents a share. The company, which acquired Marshalls from Melville Tiffany Bracelet sale. last November, said sales climbed 93% to $1.6 billion, while same-store sales on a combined basis increased 6%. TJX said its T.J. Maxx and Marshalls units had higher-than-anticipated net and improved margins. In New York Stock Exchange composite trading, TJX shares rose $1.625 to $33.625.Tiffany said earnings rose to $5.1 million, or 30 cents a share. Sales at the luxury jewelry retailer rose 20% to $180.7 million. Domestic same-store sales jumped 20%, while same-store sales in Japan rose 16%. On the Big Board, its shares soared $7.125, or 11%, to $74.50.---Joseph Pereira and Jonathan Auerbach contributed to this article.Conspicuous consumption may be coming back in style.Sales of designer clothing and expensive jewelry are hot, retailers say, after several lukewarm years. Fueling the growth is a rise in international tourism. But marketers say it may also reflect baby boomers' renewed desire to stuff their closets with easily recognizable status symbols.At a time when sales at many department stores and Tiffany CuffLink sale chains are unimpressive, Swiss watch maker TAG Heuer SA says U.S. sales so far this year are up 25%, compared with last year. And at Tiffany & Co., sales at U.S. stores open at least a year rose 15% during its most recent fiscal quarter.Sales have been so strong at Ferragamo's U.S. boutiques that shoppers are limited to five handbags and 10 pairs of shoes each. Overall, Ferragamo's U.S. sales are running 35% ahead of last year's, according to Massimo Ferragamo, president of U.S. operations for Ferragamo Worldwide.
Marketers spent millions in the 1980s pitching their products as badges of affluence for unapologetic yuppies. But by the early 1990s, as baby boomers aged and had children of their own, marketing experts predicted, family values would replace the quest for self gratification. In an uncertain economic climate, overt materialism would become less fashionable: Even wealthy shoppers would choose Gap over Gucci and shun ostentatious brands like Rolex and Louis Vuitton.But it turns out some affluent consumers have tired of the simpler lifestyles. "Women are asking themselves, `What's Tiffany Earring sale with spending money on myself? How many more T-shirts do I need?'" says Michael Gould, chairman and chief executive of Federated Department Stores Inc.'s Bloomingdale's chain.Certainly, affluent consumers these days are simply more affluent. Analysts look at the 20% rise in the Dow Jones Industrial Average this year as an indication that the rich must be feeling a little richer. "There's a sense of wealth, and it's showing up in luxury goods," says Carl Steidtmann, director of research for Management Horizons, a unit of Price Waterhouse L.P.
Clifton Stone, associate general counsel at Smith Barney Inc., a unit of Travelers Group, says he will spend 50% more on apparel and accessories for himself this year, or about $3,000 on suits, shirts, ties and shoes. "Once you start treating yourself to certain quality items, you want to replace what you have with better stuff," he says. Among his favorites: ties from Milan designer Ermenegildo Zegna that cost $105.Retailers believe attitudes are somewhat Tiffany Key Ring sale now than in the '80s. This time, "it's not about having as much as you can," says Marion Davidson, director of marketing and communications for Hermes SA. "It's about having a few things that are exceptional. A Gap dress with a Hermes handbag and scarf are all you need."Retailers say today's designer-goods shoppers are thinking investment, not splurge, when they make big-ticket purchases. Robert DiNicola, chairman of Zale Corp., sees a higher "comfort level" this year among customers at the company's Bailey, Banks & Biddle jewelry stores. The most popular diamond tennis bracelets cost between $599 and $699, compared with a $299 average price last year, he says. Customers nowadays are happy to trade up as long as they feel like they're getting their money's worth, he says.
Tiffany Reports 19% Net Gain, Lifted By Asia-Pacific, EuropeTiffany & Co. reported a 19 percent jump in first-quarter earnings, buoyed by strength in the Asia-Pacific and in Europe, which offset Tiffany Earring on sale in the U.S.For the three months ended April 30, earnings reached $64.4 million, or 50 cents a diluted share, from $54.1 million, or 39 cents, in last year's quarter. The results were 25 percent above analysts' expectations of earnings of 40 cents a share.Total sales rose 12.2 percent to $668.1 million from $595.7 million, while same-store sales grew 3 percent.Sales in the Americas region, which includes North and South America, rose 6 percent to $373.6 million, while comparable-store sales remained constant. Boosted by tourists taking advantage of the weak dollar against foreign currencies, the New York flagship saw a 16 percent increase in same-store sales.In the Asia-Pacific region, which includes Japan and Asia-Pacific countries outside Japan and the Middle East, sales soared 21 percent to $222 million, while comps increased 4 percent. European sales rose 38 percent to $60.1 million and comps spiked 12 percent."While we have always said that Tiffany's business is not recession-proof, the increasingly global nature of our business is demonstrating the mitigating effect that it can have on an economic weakness in one particular region," said Mark Aaron, vice president of Tiffany Key Ring on sale relations, in a call to Wall Street.Michael J. Kowalski, chairman and chief executive officer, said the company is pursuing expansion opportunities this year and plans to open about 24 stores across the U.S., Asia-Pacific and Europe. The company also will introduce a new smaller store format in the U.S. later this year. Tiffany operated 192 units at the end of the first quarter.
Looking forward, Tiffany remains cautious and does not expect improvement in U.S. sales until later this year. The company said it remains on track to achieve full-year expectations, and raised full-year earnings guidance in the range of $2.80 to $2.90 a diluted share, from previous guidance of $2.75 to $2.85 a share. Sales are expected to be up 10 percent.Shares of the company increased 2.7 percent to close at $49.03 on Friday.Credit: By Jeanine PoggiTiffany & Cmark.aaron@tiffany.comorLinda Buckley, 212-277-5900linda.buckley@tiffany.comTiffany & Co. (NYSE: TIF), the Tiffany Key on sale renowned jeweler, today announced plans for a Fall 2008 opening of a store in Westfield London, a new retail and leisure complex due to open in White City, West London.The approximately 2,800-square-foot store will feature a modern glass facade that showcases the store's welcoming and gracious interior with custom furnishings and brushed stainless steel showcases arrayed with exclusive TIFFANY & CO. collections. Among them are the jeweler's exquisite diamonds in engagement rings; fine and sterling silver jewelry; the celebrated designs of Elsa Peretti, Paloma Picasso, Jean Schlumberger and Frank Gehry; watches; gifts and accessories. Customers may further peruse the collections in the comfort of an elegant private sales salon.
"We look forward to opening our store in Westfield London, which is being positioned to become a premier destination for luxury shopping in the area," said Melvyn Kirtley, Group Vice President Tiffany & Co. Europe. "Our prominent location in the center provides us with the ideal environment for introducing customers to Tiffany's heritage of design and outstanding service for which it is known worldwide."Tiffany & Co. operates jewelry and specialty Tiffany Money Clip on sale 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 tiffany.com.TIFFANY & CO., TIFFANY, ATLAS and TIFFANY 1837 are trademarks of Tiffany and Company.Tiffany is taking a $20 million pretax charge to discontinue some watch lines and related inventory, to prepare for the new business. Kowalski denied a press suggestion that the pact with Swatch is a "poison pill" to ward off possible hostile takeovers by other major luxury goods groups.Nicolas Hayek Sr. said Swatch Group is spending almost $400 million to boost capacity at its 160 facilities in Switzerlan
NEW YORK-Luxury retail is a tricky business. Make a product too exclusive and it limits the number of potential customers. Make it too accessible, and it can tarnish the brand's image.Michael Tiffany Bracelet on sale has walked this tightrope since joining New York-based Tiffany & Co. in 1992. Chief executive officer since 1999 and chairman of the board since 2002, Kowalski is a Wall Street favorite, with his company consistently posting double-digit earnings. In May, Tiffany reported first-quarter 2007 net earnings of $49.7 million, up 15 percent over the same period in 2006- a rise attributed to a 15 percent increase in sales, both domestic and abroad (to atotal of $620.9 million), and a trend toward sales of higher-ticket items. The New York flagship experienced a 26 percent uptick in same-store sales, which analysts attribute to the weak U.S. dollar and sales to foreign tourists. Comparable sales at other Tiffany stores averaged 9 percent.Kowalski, 55, says Tiffany has struggled to find an aspiration-accessibility balance over the years."We've been very respectful of the power of the Tiffany brand," he says. "We recognized it is, first and foremost, a retail jeweler, and we've focused all our energy on building retail franchises around the world. While the brand is powerful, it is not infinitely elastic, and we have to stay focused on what we do best."A careful expansionThe company has come a long way since opening its doors as Tiffany & Young in New York City in 1837 with its headline-making policy of non-negotiable prices. Since then, Tiffany has evolved into arguably one of the most recognized luxury brands Tiffany CuffLink on sale the world, and it has been traded on the New York Stock Exchange since 1987. Today, the Tiffany empire has 103 retail locations, including 65 in the United States."We recognize that while we have grown the brand significantly, we have grown it in a very carefully constrained manner," Kowalski says. "I've always taken the position that the Tiffany brand can be significantly larger than it has been historically, but it will only work if both the customer experience and the product quality are better year after year."
This philosophy was challenged in the late 1990s when the company's more moderately priced silver products experienced a success that actually threatened Tiffany's image."Our silver business was by far the fastest-growing segment in the company," Kowalski says. "The store traffic, quite frankly, was beginning to dilute the Tiffany retail experience for the entire customer base."In early 2002, the company pulled back on its silver offerings and increased its diamond selection. Both entry-level and average prices were increased, and advertising was curtailed or suspended."In 2004 and 2005, [increased store traffic] did have an impact on profitability, but today the Tiffany brand is stronger than ever," Kowalski says, adding Tiffany Earring on sale sales are strong again, too."We've always believed we are a product- and retail-driven brand, not a marketing-driven brand," he says. "We certainly use all our marketing skills and tools to drive [sales], but we'd rather use that to create the Tiffany experience and product quality."The company, which manufactures 65 percent of the product it sells, has focused on improving quality, as well as customer service. Each of the U.S. retail locations participates in a customer service campaign in which post-sales phone calls are used to follow up with customers and collect service-quality ratings. The ratings are calculated using statistical methodology and they hold each location's management accountable for the results.The intimidation challengeThe company has also found success by focusing its attention on the younger customer.
"There are two points of contact with that younger customer: silver jewelry and the engagement ring," Kowalski says. "An engagement ring customer is a customer for life- if that couple's experience is everything they expect it to be."To attract a younger clientele and other customers, Tiffany has made it a mission to be more welcoming to all who walk through its doors."Twenty years ago and more, Tiffany had an issue of accessibility and Intimidation. That was Tiffany Key Ring on sale of our biggest challenges," Kowalski says. "One of the ways we communicated accessibility is growth in the number of stores. Then, once a person steps through the Tiffany threshold, we hope they will have a warm, welcoming and gracious experience. The pressure is upon that first encounter to make sure the customer does indeed have the experience they've wished for."The company plans to continue adding retail locations. In June, Tiffany announced it will open its watch business to wholesale distribution in 2008 in an effort to expand what is already a strong product segment. The first assortment will include the brand's "Mark," "Atlas," "Grand" and "T-57" collections, as well as a selection of jeweled timepieces. "Our watch business continues to be an underdeveloped product category at Tiffany," Kowalski says. "We have been quite successful in terms of the watch sales we generate, but we have come to recognize that to have a truly successful watch business, wholesale distribution is essential."
The Company reports information in accordance with U.S. Generally Accepted Accounting Principles ("GAAP"). Internally, management monitors its international sales performance on a non-GAAP cheap Tiffany Key that eliminates the positive or negative effects that result from translating international sales into U.S. dollars ("constant-exchange-rate basis"). Management believes this constant-exchange-rate measure provides a more representative assessment of the sales performance and provides better comparability between reporting periods.It can take millions of years for Mother Nature to make a diamond. Investors won't have to wait nearly that long for US-based Tiffany, the world's second-largest luxury-jewelry retailer, to sparkle again. But they will have to be patient: Big spenders aren't spending so big in the current economic climate, and the Street sees dulling sales and profits in 2009. So critics have good reason to pan the stock, which is off more than 50% this year, as its sales and profits fall victim to a weakening global economy. Tiffany's shares have fallen into the bargain bin. At 9.7 times forward earnings, the stock trades at a 2% discount to the Standard & Poor's 500, according to Thomson Reuters.IT CAN TAKE MILLIONS OF YEARS FOR Mother Nature to make a diamond.Investors won't have to wait nearly that long for U.S.-based Tiffany, the world's second-largest luxury-jewelry retailer, to sparkle again. But they will have to be patient: Big spenders aren't spending so big in the current economic cheap Tiffany Money Clip, and the Street sees dulling sales and profits in 2009. So critics have good reason to pan the stock (ticker: TIF), which is off more than 50% this year, as its sales and profits -once fueled by flush natives and tourists- fall victim to a weakening global economy.Yet the stock trades near a record-low forward price/earnings ratio. And with profits expected to start recovering in 2010, Tiffany offers a compelling investment opportunity, particularly since the shares already seem to reflect expectations of a very bleak year ahead.
'The shares are attractive right now, but you must be patient," says Larry Coats, chief executive officer of Oak Value Capital Management. "This is a good business, with good management, andthestocknowtrades at bargain valuations. That is what people should look for right now."Profits are expected to fall for each of the next four quarters as sales suffer. But Tiffany has scaled back its expansion plans and is cutting costs and eliminating jobs. The company also stands to gain market share as mom-and-pop jewelry stores go out of business.Tiffany operates 204 stores here and abroad, including a flagship Fifth Avenue shop in New York (opened in 1940). Profits at the company, which had $2.9 billion in revenue last year, cheap Tiffany Necklace start climbing in late 2009 and keep rising in 2010 as the U.S. economy and jewelry demand revive. "Tiffany's brand and the quality of its merchandise will outlive this downturn," says Stephanie Hoff, an analyst with Edward Jones.Now renowned for its "little blue boxes," Tiffany was founded in 1837 when Charles Lewis Tiffany and John B. Young opened a stationery and fancy-goods emporium in New York. It controls just over 2% of the fragmented $130 billion global retail market for jewelry. According to Barclays Capital, it gets 40% of its sales from diamond jewelry,.
In the U.S., where jewelry retailing is a $35 billion annual business, Tiffany is the No. 3 player. "They have always leaned toward the high end of the market, which provided good insulation from the twists and turns of the economy," says George Van Horn,- a senior analyst with IBISWorld, a market-research firm.That insulation, however, has worn thin: The global financial crisis has hurt the rich. It's also dampened demand for luxury goods in emerging markets, which had been offsetting a drop in U.S. consumer spending. Combined with a stronger U.S. dollar and fatigued overseas economies, these developments have helped end the boom in foreign tourism to the U.S., which had helped Tiffany and other luxury retailers late cheap Tiffany Note year.Last quarter, Tiffany's year-over-year same-store sales fell 7%. This quarter, the company expects same-store sales in the U.S to slide 25% to 35%.Tiffany recently slashed profit projections for the current fiscal year, which ends Jan. 30. The company now expects to earn $2.30 to $2.50 a share, versus previous targets of $2.82 a share to $2.92 a share. And in the fiscal year that starts Feb. 2, profits could be 10% below the current fiscal year's, according to Thomson Reuters.In a Nov. 26 conference call, Tiffany didn't reveal how much cost-cutting it would do. But Kristine Koerber, an analyst at JMP Securities, expects sales, general and administrative expenses to fall 9% in the next fiscal year. The company has offered voluntaryretirement incentives to 800 U.S. employees, a recent regulatory filing says.