Thursday, 11th November 2004 (4030 views)

Luxury jeweller Tiffany has seen its sales increase by seven per cent for the quarter, despite higher precious metals prices squeezing margins.

Total net sales rose to $461 million, up by more than $30 million on the previous year.

Precious metals prices have steadily risen in recent months, breaking the $850 barrier in October, with Tiffany warning that costs were mounting.

Nevertheless, with the firm's flagship New York stores performing well, there were some encouraging figures.

Michael J. Kowalski, chairman and chief executive, said initial customer reactions to the entire range of new products were "exciting", with successful early results also coming in from the firm's new stores.

Tiffany offers a range of gold lines, covering bracelets, rings, earrings and watches, with a new range 'Atlas' recently launched, which includes items decorated with roman numerals and ornate designs.

 

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