- Prachi Singh
Tiffany & Co., in its preliminary sales results statement for the interim period from November 1, 2020 through December 31, 2020, said that preliminary worldwide net sales increased approximately 2 percent as compared to the same period in 2019, resulting in record net sales for any holiday period in the company’s history.
Commenting on the results, Alessandro Bogliolo, Tiffany’s Chief Executive Officer, said: “In the midst of a worldwide pandemic and its dynamic impacts, these all-time high preliminary holiday period sales results, which follow a strong third quarter, reflect the successful convergence of our multi-year sales strategies with respect to the Chinese Mainland (greater than 50 percent increase from prior year), e-commerce (greater than 80 percent increase from prior year), increasing average unit retail prices and accelerating product innovations.”
“During this period, we saw the Chinese Mainland market continue to drive our overall sales growth with certain other Asia Pacific markets also supporting the increase of approximately 20 percent for that region. We were also happy to see that the positive sales momentum from the third quarter continued through the 2020 holiday period for the Americas and Japan, with Japan increasing approximately 8 percent from prior year,” added Bogliolo.
At December 31, 2020, the company operated 320 stores including 122 in the Americas, 87 in Asia-Pacific, 59 in Japan, 47 in Europe and five in the UAE, versus 327 stores a year ago.