Tiffany & Co. announced financial results for the first quarter of 2016, according to which the net sales worldwide decreased by 7% compared to the same period of the previous year, to $ 891 million.
The company said same-store sales, which declined by 9% during the reporting period , have come under pressure due to weak tourist spending in some markets, particularly in Hong Kong, said the general director of Tiffany & Co. Frederick Kyumenal (Frederic Cumenal).
In North and South America total sales based on constant exchange rates decreased by 8%, while same-store sales - 9%. In US dollars, total sales decreased by 9% to $ 403 million.
Total sales in the Asia-Pacific region based on constant exchange rates decreased by 5%, while same-store sales fell 12%. Total sales decreased by 8% to $ 238 million. On these results were affected by negative sales figures in Hong Kong despite their growth in China and South Korea.
Total sales in Europe on the basis of constant exchange rates decreased by 7%, while same-store sales - by 14%. At cost decreased by 15% to $ 97 million. The Tiffany noted that this fall was due to a sharp decline in tourist spending, especially in France.
"From a strategic point of view, we believe that our initiatives will enhance our ability to provide our customers with special products and the experience and ultimately contribute to the improvement of financial results - said Kyumenal -. We remain focused on creating sustainable sales and long-term profit growth. "
As of April 30, Tiffany & Co. owned 308 stores compared with 298 stores in the same period a year earlier.
http://royalpearljewelry.blogspot.ca/
1 comment:
Official representatives of the European Union and India, participated in the intersessional meeting of the Kimberley Process (KP), made on 26 May agreed proposal, under which the EU will take over the deputy chairman of the function manual in 2017 and will then become chairman of the KP in 2018, while India will become the deputy chairman of the CP 2018 and CP will be the Chairman in 2019, according to a report published on the website GJEPC.
Addressing the participants of the meeting CP Tung-Lai Marg (Tung-Lai Margue), head of the EU delegation, said the two delegations made this statement as responsible partners of the CP, "offering a total solution" in order to "avoid conflict situations and KP to provide stability in the coming critical years. "
In his speech, Tung-Lai Marg outlined the variety of problems that the EU and India are willing to work together to solve for KP.
Tung-Lai Marg concluded by noting that an agreement on the proposed joint solution will provide a clear and predictable KP chairmanship in 2018 and 2019 and will facilitate the continued implementation of the program aimed at the general priorities in the transmission chairmanship from one party to another.
In his speech, Manodzh Dvivedi (Manoj Dwivedi), joint secretary of the Indian Ministry of Commerce and head of the Indian delegation to the inter-sessional meeting of the KP, said that India and the EU expressed their intention to work together in the KPCS to strengthen the organization. "We would also like to emphasize the importance of continued joint work as deputy chairman and chairman of the KP that will meet not only the interests of continuity, but also strengthen the KP, as it did earlier in the course of our successive presidency in 2007 and 2008", - he added .
Manodzh Dvivedi said that the proposal fulfills amended to "administrative decision on the rules and criteria for the selection of candidates for the post of deputy chairman of the Kimberley Process," and added that an official announcement to this effect will be submitted by India and the EU, as provided for in the administrative decision after the President has formally asked to apply for the post of deputy chairman of the CP 2017.
Post a Comment