Tiffany & Co. Reports Rise in 2013 Q2 Profits!

Who doesn’t love anything from Tiffany & Co.? Could it be the blue boxes they are famous for? Here at Peter Suchy Jewelers we love Tiffany & Co. jewelry—especially the vintage and estate pieces we carry in our store. From time to time, however, we do like to keep our customers updated on hot topics in the jewelry biz and this is one story we just had to look into!

According to the CTPost, “Tiffany & Co. boosted its full year-earnings forecast on Tuesday (August 27, 2013) after posting a 16 percent increase in second-quarter profits on strong sales in China that offset sluggish growth in the U.S.” The CTPost story also mentioned their stock shares rose “more than one percent.”

While many other ritzy retailers reported sales were down, Tiffany & Co.’s CEO Michael J. Kowalksi told the media, “Total sales growth met our objective due to solid performance in most regions, and with particular strength in our statement and fine jewelry product categories.” This is good news for the upcoming holiday season which we think really begins in late September when shoppers look for gems and jewelry of all kinds for a variety of gifts. And, then there’s the “let’s-get-engaged” market and we find many women are turning toward vintage engagement rings and that men are offering heirloom rings in hopes of a resounding “yes!”

The New York based company announced an increase of four percent from $888.6 million to $925.9 million for Quarter 2 and part of the reason was the 20 percent climb in Asia-Pacific sales—mostly in China. Still, sales in Europe for Q2 were on the rise at 11 percent and even in the U.S., sales rose two percent—not bad for an economy that many financial analysts say is still far from recovering. 

With increased profits, Tiffany & Co. is adding six new stores in the United States. One will be in New Jersey’s Garden State Plaza, one  in the Eton Center in Cleveland and the third in New Orleans at the shops at Canal Place. With 116 stores in the U.S., Tiffany & Co. is gearing up for the holiday shopping season and we expect them fare pretty well.

Looking for Vintage or Estate Tiffany & Co. Jewelry?

 

At our showroom located at 1137 High Ridge Road in Stamford Connecticut and we hope you’ll stop by our showroom and check out our huge inventory of vintage and estate Tiffany & Co. jewelry.

We are so excited for the upcoming holiday shopping season and we are also a top-rated PowerSeller on eBay with over 5,000 transactions and 100 percent positive feedback from our customers.

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