Christmas yields mixed results for jewellers 10th January 2005
Two of the world's leading jewellery retailers have experienced contrasting results during the critical holiday period this year, according to the latest results.
Tiffany enjoyed strong results for its holiday sales, as shoppers flocked to the popular jewellery stores.
Internationally, retail sales jumped by 12 per cent to $242.2 million, with same-store sales up by four per cent.
At the firm's flagship store in New York sales went up by 11 per cent, with company spokesman Mark L. Aaron identifying an upward trend across all major sectors.
Engagement rings and diamonds were among those areas proving most successful.
However, over at Zales the picture was less encouraging, with store sales dipping by 0.7 per cent during the holiday period.
During November and December total revenues went up 2.1 per cent to $861 million, but chief executive officer Mary L. Forte said she was confident of the resilience of the company.
"While we are disappointed with our overall holiday sales results, they are not reflective of the performance at most of our brands," she commented.
"Our largest brand, Zales Jewelers, underperformed and thus had a significant impact on our consolidated results. Our remaining brands all had positive same-store sales increases and performed at or close to our original guidance expectations for the quarter."
Zales is anticipating a flat second quarter when it announces its results at the end of this month, with same-store sales expected to be down by one per cent.

© Adfero Ltd
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