Tiffany’s revenues drop 4.9% in April quarter

92203 sizedownsmall Tiffany’s revenues drop 4.9% in April quarter92203 sizeupsmall Tiffany’s revenues drop 4.9% in April quarter
 Tiffany’s revenues drop 4.9% in April quarterIn the quarter closing April 30, 2015, Tiffany Co. recorded a 4.9 percent decline in its revenues (on y-o-y basis), which valued $962.4 million, while its profits dipped 17 percent to $105 million, reports say.

During these three months, Tiffany’s global markets saw encouraging performances, wherein sales were 3 percent up in the Americas and comparable store sales were up 1 percent. The Asia-Pacific market sales rose 4 percent helped with a good growth in China, Australia and Singapore, although Hong Kong and Macau depicted a decrease. There was a 21 percent increase in sales in Europe. While these market sales increase was within the backdrop of a strong US dollar, the sales in Japan were more impacted with the dollar. The company intends to undertake product and market expansions in the future, reports add.



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