Financial Report: Tiffany Catalog and E-commerce Segment Climbs

Annual net sales at upscale New York cataloger/retailer Tiffany & Co. rose 17%, to $2.0 billion for the year ended Jan. 31, compared with $1.7 billion in sales last year. Earnings similarly rose 13%, to $215.5 million, compared with $189.9 million last year.

Net sales grew 18% to $731.6 million for the quarter ended Jan. 31, compared with $619.0 million last year. Net earnings jumped 24%, to $110.5 million, compared with $89.3 million last year.

As for Tiffany’s direct marketing unit, the marketer says sales increased 11% in the fourth quarter to $76.8 million and increased 10% to $197.4 million for the year. Combined e-commerce and catalog sales rose 25% in the quarter and 23% for the year due to increased numbers of orders.

Business sales declined 15% in the quarter and 9% in the year as a result of Tiffany’s previously announced decision to discontinue selling employee service award programs and to leave that market by the end of 2003.

U.S. retail sales, meanwhile, rose 20% to $359.4 million in the fourth quarter and 16% to $948.9 million for the year. Comparable store sales rose 17% in the fourth quarter (up 22% in Tiffany’s New York flagship store and 15% in branch stores) and 12% in the year (up 10% in the flagship store and 12% in branch stores).

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Financial Report: Tiffany Catalog and E-commerce Segment Climbs

Annual net sales at upscale New York cataloger/retailer Tiffany & Co. rose 17%, to $2.0 billion for the year ended Jan. 31, compared with $1.7 billion in sales last year. Earnings similarly rose 13%, to $215.5 million, compared with $189.9 million last year.

Net sales grew 18% to $731.6 million for the quarter ended Jan. 31, compared with $619.0 million last year. Net earnings jumped 24%, to $110.5 million, compared with $89.3 million last year.

As for Tiffany’s direct marketing unit, the marketer says sales increased 11% in the fourth quarter to $76.8 million and increased 10% to $197.4 million for the year. Combined e-commerce and catalog sales rose 25% in the quarter and 23% for the year due to increased numbers of orders.

Business sales declined 15% in the quarter and 9% in the year as a result of Tiffany’s previously announced decision to discontinue selling employee service award programs and to leave that market by the end of 2003.

U.S. retail sales, meanwhile, rose 20% to $359.4 million in the fourth quarter and 16% to $948.9 million for the year. Comparable store sales rose 17% in the fourth quarter (up 22% in Tiffany’s New York flagship store and 15% in branch stores) and 12% in the year (up 10% in the flagship store and 12% in branch stores).

Partner Content

The Gift of Wow: Preparing your store for the holiday season - Netsuite
Being prepared for the holiday rush used to mean stocking shelves and making sure your associates were ready for the long hours. But the digital revolution has changed everything, most importantly, customer expectations. Retailers with a physical store presence should be asking themselves—what am I doing to wow the customer?
3 Critical Components to Achieving the Perfect Order - NetSuite
Explore the 3 critical components to delivering the perfect order.
Streamlining Unified Commerce Complexity - NetSuite
Explore how consolidating multiple systems through a cloud-based commerce platform provides a seamless experience for both you, and your customer.
Strategies for Maximizing Mobile Point-of-Sale Technology - NetSuite
Learn the top five innovative ways to utilize your mobile POS technology to drive customer engagement, increase sales and elevate your brand.

Financial Report: Tiffany Catalog and E-commerce Segment Climbs

Annual net sales at upscale New York cataloger/retailer Tiffany & Co. rose 17%, to $2.0 billion for the year ended Jan. 31, compared with $1.7 billion in sales last year. Earnings similarly rose 13%, to $215.5 million, compared with $189.9 million last year.

Net sales grew 18% to $731.6 million for the quarter ended Jan. 31, compared with $619.0 million last year. Net earnings jumped 24%, to $110.5 million, compared with $89.3 million last year.

As for Tiffany’s direct marketing unit, the marketer says sales increased 11% in the fourth quarter to $76.8 million and increased 10% to $197.4 million for the year. Combined e-commerce and catalog sales rose 25% in the quarter and 23% for the year due to increased numbers of orders.

Business sales declined 15% in the quarter and 9% in the year as a result of Tiffany’s previously announced decision to discontinue selling employee service award programs and to leave that market by the end of 2003.

U.S. retail sales, meanwhile, rose 20% to $359.4 million in the fourth quarter and 16% to $948.9 million for the year. Comparable store sales rose 17% in the fourth quarter (up 22% in Tiffany’s New York flagship store and 15% in branch stores) and 12% in the year (up 10% in the flagship store and 12% in branch stores).

Partner Content

The Gift of Wow: Preparing your store for the holiday season - Netsuite
Being prepared for the holiday rush used to mean stocking shelves and making sure your associates were ready for the long hours. But the digital revolution has changed everything, most importantly, customer expectations. Retailers with a physical store presence should be asking themselves—what am I doing to wow the customer?
3 Critical Components to Achieving the Perfect Order - NetSuite
Explore the 3 critical components to delivering the perfect order.
Streamlining Unified Commerce Complexity - NetSuite
Explore how consolidating multiple systems through a cloud-based commerce platform provides a seamless experience for both you, and your customer.
Strategies for Maximizing Mobile Point-of-Sale Technology - NetSuite
Learn the top five innovative ways to utilize your mobile POS technology to drive customer engagement, increase sales and elevate your brand.

Financial Report: Tiffany Catalog and E-commerce Segment Climbs

Annual net sales at upscale New York cataloger/retailer Tiffany & Co. rose 17%, to $2.0 billion for the year ended Jan. 31, compared with $1.7 billion in sales last year. Earnings similarly rose 13%, to $215.5 million, compared with $189.9 million last year.

Net sales grew 18% to $731.6 million for the quarter ended Jan. 31, compared with $619.0 million last year. Net earnings jumped 24%, to $110.5 million, compared with $89.3 million last year.

As for Tiffany’s direct marketing unit, the marketer says sales increased 11% in the fourth quarter to $76.8 million and increased 10% to $197.4 million for the year. Combined e-commerce and catalog sales rose 25% in the quarter and 23% for the year due to increased numbers of orders.

Business sales declined 15% in the quarter and 9% in the year as a result of Tiffany’s previously announced decision to discontinue selling employee service award programs and to leave that market by the end of 2003.

U.S. retail sales, meanwhile, rose 20% to $359.4 million in the fourth quarter and 16% to $948.9 million for the year. Comparable store sales rose 17% in the fourth quarter (up 22% in Tiffany’s New York flagship store and 15% in branch stores) and 12% in the year (up 10% in the flagship store and 12% in branch stores).

Partner Content

The Gift of Wow: Preparing your store for the holiday season - Netsuite
Being prepared for the holiday rush used to mean stocking shelves and making sure your associates were ready for the long hours. But the digital revolution has changed everything, most importantly, customer expectations. Retailers with a physical store presence should be asking themselves—what am I doing to wow the customer?
3 Critical Components to Achieving the Perfect Order - NetSuite
Explore the 3 critical components to delivering the perfect order.
Streamlining Unified Commerce Complexity - NetSuite
Explore how consolidating multiple systems through a cloud-based commerce platform provides a seamless experience for both you, and your customer.
Strategies for Maximizing Mobile Point-of-Sale Technology - NetSuite
Learn the top five innovative ways to utilize your mobile POS technology to drive customer engagement, increase sales and elevate your brand.