Tiffany Net Profit Of Snake Year Increased By 6%-9%

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< p > Tiffany Q4 and gross profit margins fell 13 basis points and 2 basis points to 59.1% and 57% respectively. The main reason for this decline was the pressure on the cost of precious metals and diamonds, and the sales policy towards high unit prices and low gross profit products.

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P Tiffany CEO Michael J. Kowalski expressed disappointment at sales growth and depressed gross margins in the 2012 fiscal year.

But the company plans to adjust its sales cost, SG&A expense ratio in 2013 to offset some of the low gross profit margins brought about by product diversion.

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< p > because of the continued weakness of the Japanese yen, the sales of Tiffany in the Japanese market decreased by 6% to 192 million dollars, and the annual sales increased by 4%, accounting for 17% of the total sales of the Q4.

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< p > to alleviate the impact of the yen's weakness on sales, Tiffany has announced that the price of some commodities has been raised since 10 in April, but the price increase has not been disclosed.

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Before P, analysts generally questioned whether Tiffany's expansion was too fast.

The company said it would open a total of 14 stores in 2013, including 5 in the US, 7 in the Asia Pacific region and 3 in Europe, and closed a store in Japan.

In 2012, Tiffany opened 28 stores worldwide.

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