Jewelry retailer Tiffany & Co.'s earnings more than tripled in the third quarter, buoyed by the sale of its Tokyo flagship. The company also raised full-year-guidance.For the three months Tiffany Necklace sale Oct. 31, earnings climbed to $98.9 million, or 72 cents a diluted share, from $29.1 million, or 23 cents, in the year-ago period. During the quarter the company completed the sale-leaseback of the building that houses its Tokyo flagship for $328 million, which resulted in a gain of 48 cents a diluted share after tax.Sales for the quarter soared 18 percent to $627.3 million from $531.8 million, while total same-store sales jumped 8 percent domestically and 10 percent internationally.For the nine-month period earnings leapt 64 percent to $185.5 million, or $1.52 a diluted share, from $113.4 million, or 85 cents, last year. Sales climbed 18 percent to $1.89 billion from $1.60 billion."We are pleased with our overall businesses in the U.S. and internationally, as well as with product performance ranging from robust diamond jewelry sales to a healthy increase in silver jewelry sales," said Michael J. Kowalski, chairman and chief Tiffany Note sale officer, in a statement. "We are now one month into the all-important November-December holiday season and are pleased with overall sales growth that is meeting our expectations. The vast majority of holiday season business is still ahead of us, so it is premature to extrapolate recent results or draw any conclusions about consumer spending."The company raised full-year guidance to a range of $2.25 to $2.30 a diluted share, from a prior outlook of $2.22 to $2.27 a diluted share.NEW YORK-With a name built on exclusivity, but revenue built on mass luxury, Tiffany & Co.When the Collections concept and expansion plans were announced Oct. 18, the company's stock price rose with analysts praising the focus on high-margin silver jewelry and the exclusion of low-margin engagement and statement pieces.Canavan defends suspicions that the Collections concept would cheapen the Tiffany name. Focus groups found that women were loyal to their local Tiffany store, she says.
On a conference call with analysts, Mark L. Aaron, vice president of investor relations, said U.S. retail sales increased 12 percent in the third quarter "largely driven by increased spending per transaction, as well as an increase in the number of transactions. An 8 percent increase in comp-store sales was in line with our high-single-digit expectation."Aaron went on to say that from a "price stratification viewpoint, there was price strata growth in a wide range, from under $500 to over $50,000, but the greatest percentage growth in sales and transactions was in the $4,000 to $50,000 range."Aaron said geographically, the U.S. was strong, with sales in the New York flagship rising "25 percent in the quarter on top of a 13 Tiffany Pendant sale increase last year, and were up 28 percent year to datewith the increases coming from increased transactions and higher spending per transaction."LONDON-Less than a decade ago, Sierra Leone was a warravaged zone, and, as illustrated in last year's film Blood Diamond, conflict diamonds were very much entwined in the chaos of the country's late-1990s civil war.The nation is now at peace, though both the diamond industry and human rights organizations are still working to improve conditions for alluvial miners there.One sign of progress comes from Tiffany & Co., as well known in the industry for its stringent ethical policies as it is for its blue box. It is now investing in Target Resources, an alluvial diamond and gold mining company that operates in Sierra Leone. Target announced a $5 million exclusive marketing agreement with Tiffany in September.
The investment, still subject to final documentation, will be in the form of a five-year subordinated debt. Tiffany will have first right of refusal on Target's production at market price and can sell, on Target's behalf, diamonds it does not wish to keep.Wade Watson, president of Pride Diamonds, a wholly owned subsidiary of Target, Tiffany Ring sale Tiffany is putting its money where its mouth is and that successful projects could benefit natives of Sierra Leone. Up until now, while companies have been able to raise money, they haven't been able to achieve major results in terms of exports, he says."We can create a lot of jobs, we can do community projects-that's top-line capital-but the real change comes from us actually succeeding," he says.Tiffany Chief Financial Officer James Fernandez said in a statement that the move is consistent with the company's policy of selectively investing in diamond miners who ethically mine high-quality stones."EBay has long been a pioneer in the fight against counterfeits on the Internet. We have gone above and beyond what is required by the law," said Hani Durzy, director, corporate communications.Following the first day of trial eBay said it was pleased with how things went. Tiffany declined to
With so many parties going on it's very easy to exhaust your wardrobe. Rent
the Runway is a website that lets you borrow a designer dress straight off the
runway for a fraction of the cost. You Tiffany
Earring for sale have to be seen in the same dress twice!Choose
your cocktails wisely and you'll get beauty benefits. Genesis Today Pomegranate
and Berries with Resveratrol juice is a great mixer. Resveratrol is a popular
ingredient often seen in skin creams that prevents fine lines and wrinkles. On
serving is loaded with more antioxidants than a glass of wine and it has
energizing B12 We can start to look a bit pasty this time of year so a little
body glow is just what you need so you can show some skin with confidence.
Jergens Natural Glow Revitalizing Daily Moisturizer gives you natural-looking
color that you can control depending on how often you apply.Don't leave home
without your Ms and Mrs. Minimergency Kit. Think of this as your survival kit
for the holidays because it's got 16 portable essentials like a mini hairspray,
clear nail polish, the trick to stopping a run in your nylons, stain remover,
double-sided tape, deodorant towelette, dental floss, earring backs.
etc.Charming Charlie is a fashion accessory boutique that, according to its
website, "helps shoppers pull together their look through the key finishing
touches -- earrings, necklaces, bracelets, handbags, scarves, belts ... in a
fun, boutique environment." Head to the depot Visit the holiday open house 5-9
p.m. Wednesday at Fort Wayne Tiffany
Key Ring for sale and Bike Depot, 1004 Cass St. The store, which
sells outdoor apparel, shoes, bikes and boats, will have food, drinks, special
sale prices and giveaways.To see more of The News-Sentinel, or to subscribe to
the newspaper, go to http://www.news-sentinel.com/. Copyright (c) 2010, The
News-Sentinel, Fort Wayne, Ind. Distributed by McClatchy-Tribune Information
Services. For more information about the content services offered by
McClatchy-Tribune Information Services (MCT), visit
www.mctinfoservices.com.
Nov. 19--Let the season of holiday shopping (or
should we call it holiday madness?) begin.My favorite time to go to the mall is
the week before Thanksgiving. The stores are full of beautifully displayed
merchandise that hasn't been picked over by shoppers. I went one rainy night
this week, and the stores were blissfully quiet. It's the proverbial calm before
the storm.As you're outin' and aboutin' this holiday season, I've got two bits
of advice: a) Be nice to retail employees. Most of them are working their tails
off. b) If you're thinking about swiping something: don't. It isn't just Santa
who's got his eye on you. I have a relative who works in loss prevention. I've
heard the stories. Believe me, if you're about to Tiffany Key
for sale something, you're probably acting in a way that arouses
suspicion, and they're already watching you.Visit marketplaceThe old Marshall
Field's space at Glenbrook Square is the location for this year's Holly Days
Marketplace now through Sunday. One hundred vendors will sell apparel, jewelry,
home and garden decor, gourmet foods and more. Tickets cost $5. The event
benefits Mad Anthonys Children's Hope House, a nonprofit pediatric hospitality
house where families can stay when they have a critically ill child at Lutheran
Hospital.Meet rural artistsVisit artists in their studios 10 a.m.-6 p.m.
Saturday during the Rural Studio Tour. Eight artists selling prints, pottery,
fiber art, photography, jewelry and more will open their studios to the public.
It's an opportunity to meet the artists and perhaps purchase a unique, handmade
gift for yourself or others. The self-guided tour includes three stops in
northwest Fort Wayne, four in Leo and one in Spencerville. To view a map, go to
www.facebook.com/ArtStudioTour. Or you can pick up a brochure at Orchard
Gallery, Artlink or Firefly Coffee House in Fort Wayne, or Higher Grounds and
Leo Cafe in Leo.
Day of Giving Here's something else to do Saturday. Radio station WAJI, Majic 95.1-FM. is sponsoring the Majical Day of Giving at Jefferson Pointe. Nonprofits are selling shopping tickets good for discounts Saturday at participating stores. At 7 p.m., Santa Claus and David Archuleta, 2008 "American Idol" runner-up, will light the Christmas tree, and then Archuleta will perform a mini concert. Accessory store Speaking of Jefferson Pointe, a new store is to Tiffany Money Clip for sale this month across from Bath and Body Works. Charming Charlie is a fashion accessory boutique that, according to its website, "helps shoppers pull together their look through the key finishing touches -- earrings, necklaces, bracelets, handbags, scarves, belts ... in a fun, boutique environment." To learn more, go to www.charmingcharlie.com. Head to the depot Visit the holiday open house 5-9 p.m. Wednesday at Fort Wayne Outfitters and Bike Depot, 1004 Cass St. The store, which sells outdoor apparel, shoes, bikes and boats, will have food, drinks, special sale prices and giveaways. In November, the store is offering 15 percent off any bike or boat in stock. It also offers a layaway plan. The store also now sells Patagonia shoes and Scott running shoes.