Tiffany & Co
Tiffany & Co, one of the most widely known brands in the jewelry industry, started to summarize the year past. Its quarterly net sales went up 14% by the end of the third quarter of 2010 and continued to climb in the two pre-holiday months (the company’s reporting period ended on December 31) by another 11% to $888.5 million. Its Americas sales, which included the U.S., Canada and Latin America, rose 9 percent to $484.8 million. Tiffany & Co’s most famous flagship store in New York posted a 3-percent increase in sales. Japan sales rose 11% to $142.5 million. The Asia-Pacific sales market is gathering pace scoring a 23-percent rise in sales to $138.9 million. Sales in the European region grew 13% and reached $114.9 million.
During the past holiday season Tiffany & Co expanded its network of branded stores. New points of sale emerged in the U.S. (Houston, Jacksonville, Los Angeles), China (Kunming), Korea (Seoul), Europe (Barcelona, London). Compared with last year, Tiffany & Co increased the number of branded stores from 220 to 232.
In 2011, the company announced the resignation of James E. Quinn, responsible for sales outside the U.S.
Kingold Jewelry
Kingold Jewelry, Inc. does not surrender its position as one of the pace-setting manufacturers of 24-carat-gold jewelry in China. Over the past 4 quarters of 2010 the company scored a significant increase in net sales.
Analyzing financial results for the third quarter of 2010, one can note a significant increase in the company’s net revenue, net profit and earnings per share. Net sales went up 81.1% to $169.7 million in the third quarter of 2010, compared with $93.7 million in 2009. The increase in net sales in 2010 was primarily due to higher growth of working capital, which gave Kingold Jewelry a chance to benefit from increased demand for their goods. In addition, Kingold Jewelry also expanded its geography to implement previously planned business operations. Due to proactive work of its experts, the company is gaining new markets to increase prospect and current sales. The company management is very optimistic in their forecasts for 2011.
Harry Winston Diamond Corporation
According to Robert Gannicott, the recession continues to affect diamond jewelry demand in the U.S. market.
Harry Winston’s mining revenues for the penultimate quarter of 2010 increased by 89%. The company’s revenue for the quarter increased due to several factors. One of the main reasons was that prices for rough diamonds increased by more than 60%; experts also pointed to an increase in sales. The most part of all diamond output Harry Winston recovers from the top layer of its new open cast mine, A418, but now the company embarked on an early stage of developing deeper deposits. Unfortunately, due to the large amount of pollutions in the mine, Harry Winston will continue cleaning operations in 2011 as well. The third quarter of 2010 saw an increase in sales to $140.9 million from $74.8 million in the same period in 2009. The company's staff managed to avoid losses from other financial transactions and gain some profit in this sector. Rough sales rose by 192% to $60.7 million from $20.8 million in 2009. Retail sales also went up by 48% to $80.2 million.
Bergio
Bergio International, Inc. was also summarizing what had been done. In late 2010, the company as usually announced the results for the past three quarters. Bergio International, Inc. is one of the fastest growing fashion brands. To date, it commands about one hundred of branded retail outlets throughout the United States.
The company reported a third quarter sales increase by 35% for total net sales of $343,514 and in the first nine months, sales increased by 26% from $708,959 to $892,509. Gross margins improved from 28% to 52% from the comparable period.
The company contributes the positive news to the expansion of its customer base outside the United States and the successful results experienced through its Neiman Marcus line and the JCK Show in Las Vegas earlier in the year.
Christina Salimova for Rough&Polished
