Tiffany’s holiday net sales rose by 2% to hit a record high, mainly due to China sales and online transactions, according to MarketWatch. Chinese mainland sales increased more than 50% from the prior year, while e-commerce gained 80% in the same period.
- Net sales in the Asia Pacific and Japan rose 20% and 8% respectively from November 1 and December 31
- Sales in Americas and Europe fell by 5% and 8% respectively from November 1 through December 31
- The all-time high preliminary holiday period sales results, which follow a strong third quarter, reflect the successful convergence of Tiffany’s multi-year sales.
- Tiffany also had increasing average unit retail prices and accelerating product innovations.
Tiffany stock is currently gaining. TIF: NYSE is up 0.0076% in the premarket.
