Jewellery Brand Tiffany Kept No Growth For 12 Consecutive Quarters.

According to the world clothing shoes and hats net, the high-end jewelry brand of the United States

Tiffany&Co. did not grow in the same store for 12 consecutive quarters.

Tiffany&Co. (NYSE: TIF) announced that the first quarter net profit rose 6.2% to $92 million 900 thousand in the first quarter of fiscal year 2017, but sales growth stagnated, showing a flat 899 million US dollar in the same period in the previous fiscal year, less than analysts' expectations of $915 million, while same store sales fell 3% over the same period last year.

Tiffany regional growth figures for the first quarter of fiscal year 2017

Tiffany 2017 major performance data for the first quarter of fiscal year

By Region:

US regional sales fell 3% to 392 million US dollars, and same store sales decreased by 4%.

Sales in Japan dropped by 2% to $128 million, while sales in the same store dropped by 1%.

In addition to Japan, the Asia Pacific region recorded an increase of 8% to $257 million, while the same store sales fell by 3%, of which mainland China's sales growth was the most significant, further confirming that Chinese consumers' luxury consumption is gradually returning to China.

Sales in Europe were also significantly reduced by the sharp decrease in tourist consumption resulting from frequent terrorist attacks, with a decrease of 3% to $94 million.

Sales in other parts of the world surged 32% to $28 million, mainly due to the growth of diamond wholesale business.

The report shows that in the three months ended April 30th, Tiffany did not add or close any stores, and there were 310 direct outlets in the world, including 124 in the US, 84 in the Asia Pacific region, 54 in Japan, 43 in Europe, and 5 in the Middle East.

Michael J. Kowalski, chairman and interim CEO of the board of directors, said that although Tiffany's performance exceeded the group's expectations in the first quarter, the group will continue to focus on long-term strategy implementation and will continue to optimize its product mix and store network in the future through effective management.

Marketing strategy strengthens communication with consumers to stimulate sales growth.

According to the world clothing and shoe net, Tiffany sales decreased by 3% to $4 billion in the 2016 fiscal year, while sales in the same store dropped by 5%, while net profit fell 3.8% to 446 million US dollars.

Edward Jones analyst Brian Yarbrough said the US high-end

Retail sales are becoming more and more difficult. Department stores are also struggling. Now young consumers are constantly pursuing new tastes instead of having the same product that everyone has. In Tiffany, you can't have that.

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

Last February, Tiffany announced that the brand CEO Frederic Cumenal will step down and take effect immediately.

This is the latest and most significant change in personnel in Tiffany. Not long ago, 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.

For the 2017 fiscal year ended January 31, 2018, Tiffany expects sales to increase by a low single digit number and increase by 10 stores.

After the release of the earnings report, Tiffany shares fell more than 5% to $89 A share today, with a market value of about 11 billion 700 million dollars.

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