X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

NEW YORK CITY-Jewelry retailer Tiffany & Co. is opening a 1,600-sf boutique store in Omiya, Japan on Oct. 14, representing the 53rd store in the country. The approximately will be located in the Sogo department store at 1-6-2 Sakuragicho, Omiya-ku, Saitama.

Michael C. Christ, president of Tiffany & Co. Japan Inc., says the Sogo department store is located in Omiya’s vibrant commercial area, an ideal retail setting for a boutique. The boutique will combine architectural details of Tiffany’s famous New York store.

As of its latest quarter ended July 31, net sales were up 9% driven by increases in US and international comparable store sales. While US retail sales increased 8% to $288.6 million in the second quarter and 5% to $549.1 million in the first half, international sales increased 10% to $223.1 million in the second quarter and 12% to $438.32 million in the first half.

On a constant-exchange-rate basis, sales rose 12% in the quarter and 16% in the first half due to 6% and 11% total retail sales growth in Japan and solid growth in most other countries. On that same basis, comparable international store sales increased 10% in the quarter and 13% in the first half, due to growth of: 2% in the quarter and 7% in the half in Japan; 27% and 24% in the Asia-Pacific region outside Japan; and 17% and 20% in Europe.

The company operated 97 Tiffany international stores and boutiques and 60 US stores at the end of the quarter.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt
Live Chat

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.