Tiffany Will Record A Decline In 11 Consecutive Quarters Of Same Store Sales.

According to the world clothing shoes and hats net, in less than 3 days, the United States high-end jewelry.

The Frederic Cumenal of Tiffany&Co (NYSE:TIF) becomes the second CEO after the RalphLauren CEO Stefan Larsson.

Tiffany said in a statement that it is actively looking for a successor to Frederic Cumenal. During this period, Michael Kowalski, the current chairman of the group, will act as interim CEO.

The picture shows Tiffany&Co. CEO Frederic Cumenal.

Michael Kowalski said that the board was disappointed at the group's sluggish performance and inaction during the Frederic Cumenal period. It must update and accelerate the implementation of its core business strategy to enhance brand globally.

Market performance and market share.

In view of the retail downturn in the holiday season, analysts expect Tiffany to decline in 11 consecutive quarters of same store sales.

In the first three months of October 31st, Tiffany's profits rose 4.5% to $95 million 100 thousand, up 1.3% from a year earlier, from $938 million a year earlier to 949 million US dollars, but same store sales fell 2%.

From the global market perspective, Tiffany was almost in a state of overall setback in the third quarter, and recorded the slowest growth in five years except for other parts of China.

The growth in mainland China offset the negative impact of Hongkong's market performance, while the mainland market remained unstable. In the Asia Pacific region, including China last quarter, revenue fell by 6%.

It is worth noting that in the fiercely competitive Chinese jewelry market, Tiffany's main competitors, Bvlgari and Cartire, have invited young idol Wu Yifan and Lu Han as spokesmen. They are trying to attract millennial generation of young consumers.

Tiffany predicted earlier that the decline in China's Hongkong region would continue and could not be improved.

In addition to the high end of the US

In view of the harsh environment of retail sales, there is an analytical view that more and more millennials feel that Tiffany is old and is out of date.

Brian Yarbrough, an analyst at EdwardJones, said that high-end fashion retailing is becoming more and more difficult, and department stores are struggling. Young consumers are constantly pursuing new products instead of everyone else. This is why they prefer Danish jewel brand Pandora now because they can wear thousands of different bracelets on their hands, and you can't have them in Tiffany.

According to Pamela Danziger, an analyst at Unity Marketing, a market research firm, Pandora and AlexandAni are more popular with the Millennials. The two brands are dividing the market share of Tiffany, and more importantly, they provide customized jewelry services that attract young consumers.

This is the latest and most significant change in personnel in Tiffany. Last month, the group dismissed the creative director Francesca Amfitheatrof, who joined in 2013, to relocate Coach, the original creative director, Reed Krakoff, and its appointment came into effect in February 1st.

Earlier, the Grace Coddington, the creative director of the US version of Vogue, joined Tiffany. Some analysts pointed out that the joining of Grace Coddington helped to increase Tiffany's brand personality and attractiveness to consumers.

Tiffany recorded a 2.93% rise in the stock market closing on Friday, with a market value of about $10 billion, and the company plans to announce its fourth quarter and year-round results in March 17th.

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