DM Good, But Retail Better, For Tiffany’s Holiday Sales
Tiffany & Co.’s direct marketing sales during the holiday season — Nov. 1 through Dec. 31 — rose a healthy 10%, to $69.7 million, over the same period in 2005. The New York-based jeweler attributed the increase to an uptick in both the number of orders and order value.
But domestic retail sales rose 12%, to $432.4 million, during the same period, and international sales jumped 18, 60 $283.6 million. Both were aided by new stores.
Domestic retail sales were boosted by revenue from five new U.S. locations. Without their input, domestic revenue would have risen 8%. Likewise, international sales gains would have been 6%, if not for new retail outlets.
The company also generated $32.4 million in wholesale sales.
Tiffany’s plans to open between five and seven U.S.-based stores, and 10 international locations, during 2007.
