Tiffany released its annual performance on Friday as of January 17, 2018, and sales increased by 4% to 4 billion 200 million dollars compared with the same period last year, compared with the same period last year. By the negative impact of the huge tax and fee generated by the US new tax law, net profit fell 17% to 370 million dollars, and the gross profit rate was slightly higher than that in the same period 62.5%.
In the fourth quarter, sales increased by 9% to 1 billion 300 million US $1 billion 300 million, up 6% on a constant exchange rate, a year-on-year increase of 3% over the same period, with a constant exchange rate of 1%, lower than the previous analyst’s expectation of 2.8%, the net profit fell by 61% to 62 million, and the gross interest rate was 63.7%.
According to fashion headline data, Tiffany can not grow for thirteenth consecutive quarters, the sales trend is improving, 3% in the first quarter last year, 2% in the second quarter, and 1% in the third quarter, which has gradually narrowed.
Alessandro Bogliolo, a former Bvlgari executive and new CEO, said the group’s recent investment in digital upgrading, marketing and store improvement will have a negative impact on the performance in a short period of time, but will gradually recover after a period of time.