Tiffany's holiday net sales reached record highs

By: Miguel A. Rodriguez

14:20, 11 January 2021

Preliminary data showed an increase in sales for Tiffany in the past two months

The holiday season seems to have been a prolific one for the American luxury jewelry brand – Tiffany & Co.

According to the company's preliminary data, its sales result for the 2020 holiday period (November 1, 2020 – December 31, 2020) reached a record high, up 2%. Part of the increase was due to sales reported in China and online transactions. "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% increase from prior year), e-commerce (greater than 80% increase from prior year), increasing average unit retail prices and accelerating product innovations," according to Alessandro Bogliolo, Tiffany's CEO.

Moreover, Tiffany is waiting to be officially purchased by LVMH in a deal that costs the latter $15.8 billion. The takeover already received regulatory approval and is expected to be closed in early 2021.

Following the news, Tiffany & Co stock price was flat, but in the past twelve months, it lost 2%. During the same period, USA500 gained around 15%.


Share this article

This information/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided.