Tiffany & Co. announcing its preliminary sales results for the period from November 1, 2019 through December 24, 2019 (the “2019 interim holiday period”), said that worldwide (unaudited) net sales for the 2019 interim holiday period increased approximately 1 - 3% as compared to the same period in 2018.

Alessandro Bogliolo, Chief Executive Officer, said, “We are pleased to present our interim sales results for this important season, which reflect improved global trends compared to previous quarters this year. During this period, we continued to see the Chinese Mainland drive our overall sales growth with a strong double-digit increase, offset by the persisting declines in the Hong Kong market and, to a lesser degree, Japan - which we believe continues to be negatively impacted by the recent increase in the consumption tax. We are happy to see sales growth in the Americas, a momentum shift in the region.”

For the holiday period as defined above, the Company’s preliminary net sales in the Americas increased by between 2%-4%, and also 2%-4% on a constant exchange rate basis; in the Asia-Pacific region, Tiffany’s preliminary net sales were higher by 5%-7%, and in terms of constant exchange rate they were up 7%-9%; Japan saw a decrease in preliminary net sales of between 9%-11%, while on a  constant exchange rate basis the decrease was of between 12%-14%; in Europe the Company’s preliminary net sales were up by 3%-5% and on a constant exchange rate basis too, the figures remained the same.

As at December 24, 2019, the Company operated 327 stores (125 in the Americas, 91 in Asia-Pacific, 58 in Japan, 48 in Europe and five in the UAE), as  compared to 321 stores a year ago (124 in the Americas, 90 in Asia-Pacific, 55 in Japan, 47 in Europe and five in the UAE).

The Company has said that it expects to report its fourth quarter and full-year financial results on March 20, 2020.