Financial Reports: Tiffany, Dover Saddlery

Sales Up, Earnings Down at Tiffany
New York-based jewelry and gifts cataloger/retailer Tiffany & Co. grew its direct marketing sales 15% for the fourth quarter and 11% for the year. For the three months ended Jan. 31, direct sales totaled $70.8 million; for fiscal 2005 they hit $157.5 million. An increase in the number of orders and in average order value accounted for the increases.

Total fourth-quarter sales rose 6%, to $858.4 million. For the full year, sales were $2.4 billion, a 9% increase from fiscal 2004.

But net income for the fourth quarter slid 35%, to $140.3 million. And annual income fell as well—16%, to $254.7 million. The decline was a result of a one-time gain taken in December 2004.

Quarter, Annual Sales Up at Dover Saddlery
Fourth-quarter direct sales for Littleton, MA-based equestrian products merchant Dover Saddlery increased 4%, to $15.5 million for the three months ended Dec. 31. For the full year, combined catalog and Internet sales increased 2%, to $53.3 million.

Total fourth-quarter revenue reached $18.1 million, a 9% increase from $16.7 million for the fourth quarter of 2004. For the full year, Dover’s sales increased 7%, to $62.7 million, up from $58.7 million. The increase was attributed to a 42% growth in the company’s retail channel.

The increases didn’t cross over to the other side of the ledger, however. Fourth-quarter net income fell 28%, to $191,000. And full-year income tumbled 41%, to $826,000 from $1.4 million the previous year.

Partner Content

Hincapie Sportswear Finds Omnichannel Success in the Cloud - Netsuite
For more and more companies, a cloud-based unified data solution is the way to make this happen. Custom cycling apparel maker Hincapie Sportswear has leveraged this capability to gain greater visibility into revenue streams, turning opportunities into sales more quickly while gaining overall operating efficiency. Download this ecommerce special report from Multichannel Merchant to more.
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.