Tiffany’s worldwide e-commerce sales nearly doubled in the two months compared to the same period in 2019, according to the press release. E-commerce sales represent 13% of total net sales year-to-date through September, up from historical averages of 6%. Global net sales for the two months declined slightly from the comparable period in 2019.
- Company’s full-year results to be substantially affected by COVID-19, but company “pleased with the way the business has rebounded”-Alessandro Bogliolo, CEO
- Tiffany anticipates mid-single-digit percentage sales decline and mid-single-digit percentage operating earnings increase in Q4 2020 relative to comparable period in 2019
- Q4 diluted earnings per share expected to rise from the year-ago period by a mid-to-high single-digit percentage on a reported basis.
- Mainland China sales remained strong while Tiffany T1 line, the latest gold and gold with diamond jewelry collection remained resilient.
- U.S. sales declined by a low double-digit percentage compared to a similar year last year
Tiffany stock gaining on preliminary sales and operating results. TIF: NYSE is up 0.45%