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Richard Farb Joins Simparel as Vice President of Sales and Marketing

Simparel, Inc. has announced that Richard Farb has joined the company as Vice President of Sales and Marketing. Simparel is a technology company that has developed a new generation of ERP solutions that is faster and less expensive than traditional software systems. Simparel offers its global supply chain customers tiffany bracelet an Enterprise License solution and Software as a Service (SaaS.)

Farb comes to Simparel with more than 25 years of sales and marketing experience in the advanced technology sector and fashion industry, including serving as CEO of The Edge, a manufacturer of contemporary casual clothing. His experience includes launching new products and creating innovative programs that penetrate new markets. His most recent focus targeted executing product development management and life cycle management initiatives that deliver speed to market to global supply chain organizations.

Mr. Farb reports to Ron Grilli, CEO, and is based in Simparel’s new corporate facilities in New York. Mr. Grilli says: “Richard brings extensive knowledge and experience to our sales and marketing initiatives, and more importantly, he truly understands the needs and challenges of the fashion industry. He easily relates to our target customer’s business needs since he was an owner/operator of a fashion business himself. We are pleased that Richard is now part of the management team of our rapidly growing organization.”

Mr. Farb adds: “I am thrilled to be part of this exciting new venture. Every decade or so a new technology emerges that changes our industry. Simparel is that new technology. Complex fashion-related businesses can now manage their enterprise in a fast, flexible and affordable way.”

About Simparel, Inc.

Simparel, Inc. has developed a new generation enterprise solution that delivers the unique combination of discount tiffany the simplest, quickest and most affordable global supply chain business solution available today. Simparel’s initial market is fashion-related businesses, including apparel, footwear, accessories, costume jewelry, home furnishings and toys. The Simparel solution is so adaptable that it can expand beyond the apparel and fashion-related businesses into numerous other industries that are characterized by quick market response to ever-changing consumer demands. Established in 2007, Simparel has its corporate offices in New York.

Dismal holiday sales at Nordstrom

As expected, the 2008 holiday-shopping season was one Nordstrom probably would like to forget.

The Seattle-based retailer said Thursday sales at tiffany sale open at least a year declined 10.6 percent for the five weeks that ended Jan. 3.

Nordstrom also said that because of “higher than expected” pressure to mark down prices, it does not think it will meet its outlook for a fourth-quarter profit of 35 cents to 45 cents a share.

If there’s a bright spot, it’s that Nordstrom beat the 13 percent decline in same-store sales that analysts polled by Thomson Reuters predicted.

Even so, shares of its stock closed down 35 cents, or 2.4 percent, at $14.53 Thursday.

Nordstrom reported preliminary total sales of $1.13 billion for the five weeks, representing an 8 percent decrease from a year ago.

The company said it continues to adjust its inventory levels and Tiffany Bracelets them to be “more aligned with current sales trends” by the end of its fiscal year on Jan. 31.

Also, Nordstrom generally is not filling open positions for headquarters jobs downtown, and it is laying off some salespeople in stores, said spokeswoman Brooke White.

The 2008 holiday-shopping season proved difficult for virtually all retailers. December same-store sales declined 4 percent at Macy’s, 19.8 percent at Saks, and 8.1 percent at J.C. Penney.

Even Wal-Mart posted a smaller sales gain than Wall Street expected and cut its earnings outlook for the fourth quarter.

The nationwide picture was bleak: Same-store sales for November and December combined were 2.2 percent — the weakest holiday shopping season since the International Council of Shopping Centers and Goldman Sachs started the index in 1969. For all of 2008, sales rose just 1 percent, the weakest in at least 38 years.

“The blanket that has covered the North American consumer that has kept them from spending is heavier than expected,” said Dean Hillier, partner in the retail practice of consulting firm A.T. Kearney.

The malaise was widespread — kitchen gadgets to jewelry to clothes. Several stores such as Toys R Us and Macy’s said business improved in the last weeks of December as shoppers pounced on the best deals, but people still cut back overall.

Wal-Mart, the world’s largest retailer, benefited last year as shoppers focused on necessities and switched to cheaper stores, but analysts say its disappointing December performance may signal that shoppers are pulling back even more. December sales were up 1.2 percent including fuel sales and rose 1.7 percent without. Wall Street was expecting 2.8 percent excluding fuel.

Ken Perkins, president of research company RetailMetrics, expects Wal-Mart to cut prices even further, fueling price wars. That’s good news for shoppers.

Rival store Target, which had been stumbling because it depends more on discount tiffany items like trendy clothes, said its same-store sales dropped less than expected. Target cut prices to gain market share and clear out inventories, but it says those moves will hurt its fourth-quarter profit.

Macy’s cut its full-year earnings outlook because of heavy markdowns and said it plans to close 11 stores, though none in Washington. Its same-store sales were down 4 percent in December, and more than 7 percent for November and December combined.

High-end stores fared far worse. Saks posted a decline of almost 20 percent, while Neiman Marcus Group was down more than 27 percent.

Information from The Associated Press is included in this tiffany pendant.

American Eagle Outfitters Inc August Sales Conference Call

Good morning, and welcome to the American Eagle Outfitters August 2009 sales commentary. This is Judy Heart tag charm Toggle bracelet, Vice President of Investor Relations. During this call, I will make certain forward-looking statements based on our current expectations.

Actual results may be materially different based on risk factors included in our quarterly and annual reports filed with the SEC.

Total sales for the four weeks ended August 29, 2009 decreased 4% to $307.7 million compared to $320 million for the four weeks ended August 30, 2008. Consolidated comparable store sales decreased 7% compared to a 5% decrease for the same period last year. August sales performance was consistent with our expectations.

AE brand comparable store sales showed improvement from the first half of the year, driven by better results in the women’s business. Overall, AE women’s posted negative mid single digit comps and men’s declined in the high single digits. Women’s jeans were among the best-performing categories, along with dresses, jewelry, men’s graphics, and men’s and women’s woven shirts.

AEO direct sales increased in the low single digits in the month of August. Our online business was discount tiffany affected by a later Labor Day and extended back-to-school shopping period.

This week, the AE fall assortment arrived in stores and online, providing newness for the holiday weekend and late peak back-to-school shopping season.

Now regarding earnings, we continue to expect third-quarter earnings $0.22 to $0.25 per share, which includes a tax benefit of approximately $0.05. This guidance excludes the possibility of additional impairments or losses related to investment securities. This compares to third-quarter EPS of $0.30 last year.

Thank you for your continued interest in American Eagle Outfitters.

[Thomson Financial reserves the right to make changes to documents, content, or other information on this web site without obligation to notify any person of such changes.

In the conference calls upon which Event Transcripts are based, companies may make projections or other forward-looking statements regarding a variety of items. Such forward-looking statements are based upon current expectations and involve risks and uncertainties. Actual results may differ materially from those stated in any forward-looking statement based on a number of important factors and risks, which are more specifically identified in the companies’ most recent SEC filings. Although the companies may indicate and believe that the Return to Tiffany heart tag Charm and bracelet underlying the forward-looking statements are reasonable, any of the assumptions could prove inaccurate or incorrect and, therefore, there can be no assurance that the results contemplated in the forward-looking statements will be realized.

Charles & Colvard Appoints Thomas G. Pautz as Vice President, Sales and Marketing

Charles & Colvard, Ltd. (NASDAQ: CTHR), the sole manufacturer of moissanite jewels, The Most Brilliant Jewel in the World(TM), announced today the appointment of Thomas G. Pautz as its Vice President, Sales and Marketing. As a member of the executive management team, Mr. Pautz will play a key role in the development and execution of the Company’s short- and long-term strategic sales and marketing plans.

Mr. Pautz has 25 years’ sales and marketing experience in the industry where he has worked with manufacturers and large retailers. Most recently, Mr. Pautz was employed as Vice President – U.S. Sales by KTL, a Hong Kong-based jewelry manufacturer with operations in China. During his six-year tenure with the firm, Mr. Pautz grew sales in the United States ten-fold. Prior to this, Mr. Pautz was Vice President, Sales and Marketing with a U.S.-based jewelry manufacturer where he tripled sales in less than three years. Mr. Pautz earned a Bachelor of Science Degree from the University of Minnesota.

George R. Cattermole, Chairman of the Board and Interim Chief Executive Officer of Charles & Colvard commented, “Charles & Colvard is in a pivotal period as we solidify our sales and marketing strategies. We believe Tom’s past successes as well as his extensive industry knowledge will Return to Tiffany heart tag Charm and bracelet to the successful execution of our strategic direction going forward. We are very excited to have someone of Tom’s caliber join us in the next phase of our evolution.”

About Charles & Colvard, Ltd.

Charles & Colvard, Ltd. (NASDAQ: CTHR), based in the Research Triangle Park area of North Carolina, is the global sole source of lab-created moissanite, a unique, near-colorless jewel that is distinct from other gemstones and jewels based on its exceptional fire, brilliance, luster, durability, and rarity. Charles & Colvard Created Moissanite is currently used in fine jewelry sold primarily through domestic and international retailers. For more information, please access www.moissanite.com or www.charlesandcolvard.com.

Charles & Colvard and Charles & Colvard Created Moissanite are registered trademarks of Charles & Heart tag charm Toggle bracelet, Ltd.

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act. Statements expressing expectations regarding our future and projections relating to products, sales, revenues, and earnings are typical of such statements and are made under the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements about our plans, objectives, representations, and contentions and are not historical facts and typically are identified by use of terms such as “may,” “will,” “should,” “could,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “continue,” and similar words, although some forward-looking statements are expressed differently.

All forward-looking statements are subject to the risks and uncertainties inherent in predicting the future. You should be aware that although the forward-looking statements included herein represent management’s current judgment and expectations, our actual results may differ materially from those projected, stated, or implied in Return to Tiffany Heart tag ring forward-looking statements as a result of many factors including, but not limited to, the recent downturn in the worldwide economy and its ongoing impact on our business and the business of our customers and suppliers, any continued trends in the general economy that would adversely affect consumer spending, a further decline in our sales, dependence on consumer acceptance of our products, dependence on Cree, Inc. as the current supplier of most of the raw material, ability to develop a material second source of supply, dependence on a limited number of customers, risks of conducting operations in foreign countries, dependence on third parties for the sales and marketing of our products to end consumers, continued listing of our common stock on the NASDAQ Global Select Market, and the impact of significant changes in our management on our ability to execute our business strategy in the near-term, in addition to the other risks and uncertainties described in more detail in our filings with the Securities and Exchange Commission, or the SEC, including our Annual Report on Form 10-K for the fiscal year ended December 31, 2008 and subsequent reports filed with the SEC. Forward-looking statements speak only as of the date they are made. We undertake no obligation to update or revise such statements to reflect new circumstances or unanticipated events as they occur except as required by the federal securities laws, and you are urged to review and consider disclosures that we make in the reports that we file with the SEC, that discuss other factors relevant to our business.

HauteLook, A Top Destination for Cyber Monday Savings

HauteLook, a leading private sale site with nearly 1.5 million members, will offer an amazing lineup of sale events with discounts of up to 75 percent off premium fashion and lifestyle brands on Cyber Monday, November 30.

HauteLook will host double the number of Cyber Monday sale events the site hosted in 2008, with nine sale tiffany bracelet happening throughout the day. Members searching for discounts on toys and kids’ apparel can log on to the site anytime before 11:00 a.m. EST to find bargains on HaPe toys and Mulberribush kids’ leisurewear. At 11:00 a.m. EST, new sale events will start with brands including William Rast, Rachel Pally, Charriol fine jewelry, Evis MD skincare and Breville. There will be gifts for everyone on the holiday gift list: cozy Rachel Pally sweaters and dresses, ideal for holiday parties; innovative Breville kitchen appliances, including a new slow cooker available for $139.99; luxury skincare products, diamonds, denim, designer handbags and more.

Instead of searching for discounts on the latest and greatest products on Black Friday in crowded stores or visiting retailers’ Web sites on Cyber Monday looking through thousands of products, consumers can find an edited collection of the hottest brands on HauteLook, all up to 75 percent off, from the convenience of their desk or home office.

In addition to saving members money, HauteLook helps members discover new and up-and-coming tiffany pendant and designers. From the homepage, members can see all the sale events that are coming up throughout the week, watch videos and the brands that will be offered, and plan their holiday shopping accordingly.

“Our unique mix of deeply discounted premium brands in the fashion, kids, home and beauty categories will differentiate us from our competitors on Cyber Monday and throughout the holiday season,” says HauteLook CEO Adam Bernhard. “HauteLook is a one-stop-shop for stocking up on great gifts at great prices and a savvy shopper’s paradise year-round.”

The deals will continue the week following Cyber Monday with sale events on Rock & Republic apparel for men and women (12/2), women’s fashions from Meghan Fabulous (12/3), Taschen books (12/2), Peter Thomas Roth skin care (12/1), and Mimi & Maggie clothing for girls (12/4), as well as daily sale events with fine jewelry brands, including Lauren K (12/2) and Zoe Chicco (12/3). One standout gift, a Lauren K diamond deco pendant necklace, which usually retails for $2410, will be offered on HauteLook for under $1000.

Since launching in 2007, HauteLook has brought the thrill back to shopping through exclusive, limited time sale events. In two years, the site has partnered with over 600 brands on more than 1,200 sale events. Members enjoy amazing access to premium fashion brands, boutique home labels, beauty and skincare products, kids apparel and accessories from BCBG, M Missoni, Stila and Waterford at discounts of 50 to 75 percent every day. The site is free to join and open to everyone. From the HauteLook home page, potential members simply register and tiffany ring a password – and let the shopping begin!

To shop, visit HauteLook.com.

About HauteLook:

Launched in December 2007, HauteLook is a premier online retailer offering private, limited time sale events on the world’s premium fashion and lifestyle brands. HauteLook offers discounts of 50 to 75 percent off every day on great brands for women, men, kids, home, and beauty.

Holiday Sales to Drop as Forecasters See ‘Discipline’

More consumers went shopping over the Thanksgiving holiday weekend, yet spent less than last year as they hunted for bargains on toys and electronics, according to the National Retail Federation.

Spending at stores and on Web sites from Nov. 26 to Nov. 29 rose 0.5% to an charm bracelet $41.2 billion from $41 billion a year earlier, the Washington-based trade group said Nov. 29, citing a survey conducted by polling firm BIGresearch. The higher turnout and lower average spending were in line with expectations, the NRF said. The group is sticking to a forecast for a 1% drop in spending this holiday season.

Price cuts on small appliances, toys, and winter clothes helped bring shoppers into chains including Macy’s (M), J.C. Penney (JCP), and Wal-Mart Stores (WMT). On so-called Cyber Monday, 96.5 million people plan to shop on the Internet to take advantage of limited-time offers and free shipping, according to the NRF. That would be a 14% increase from 2008.

“There’s still a lot of work to be done by the retailers,” said Adrienne Tennant, a retail analyst at FBR Capital Markets (FBCM) in Arlington, Va. “Value is number one.”

Thirteen percent more shoppers visited at least one department store this year, the NRF said. Internet spending on Black Friday, the day after Thanksgiving, rose 11% from a year ago, to $595 million, ComScore (SCOR), a Reston [Va.]-based research firm, said Sunday in a statement.

Cyber Offers

Target (TGT), the second-biggest U.S. discount chain after Bentonville [Ark.]-based Wal-Mart, for the first time this year advertised an online-only sale on Thanksgiving. J.C. Penney, the third-largest U.S. department-store company, started Cyber Monday specials a day earlier this year.

Amazon.com (AMZN), based in Seattle, is the largest online retailer and plans a series of “frank gehry deals” for limited time periods on Nov. 30.

The average shopper spent $343.31 in stores and online over the holiday weekend, less than $372.57 a year ago, the NRF said. The number of shoppers rose to 195 million from 172 million a year earlier, according to the NRF. The group is the world’s largest trade association, according to its Web site.

“Shoppers proved this weekend that they were willing to open their wallets for a bargain,” said Tracy Mullin, NRF’s president and chief executive officer, in a statement. “While retailers are encouraged by the number of Americans who shopped over Black Friday weekend, they know they have their work cut out for them to keep people coming back through Christmas.”

More Discounts

Average spending declined as prices for flat-screen televisions dropped and retailers offered a greater number of items at unprofitable prices to lure shoppers, Scott Krugman, a spokesman for the NRF, said on a Sunday conference call.

Vee Weaver, a certified nurse’s aide from Atlanta, bought a set of knives, a red shirt, and a purse at Macy’s and J.C. Penney after she was persuaded by a friend to shop on Black Friday.

“I have a job and I’ve saved all year,” Weaver, 65, said at The Shops at Wiregrass, an outdoor shopping mall near Tampa, Fla. The black leather purse she got was $14.97 marked down from $59.98. “I had to jump up and down and blink,” she said.

On Black Friday, Richfield [Minn.)-based Best Buy (BBY), the biggest electronics chain, had bigger early-morning crowds and more online visitors than last year, said CEO Brian Dunn. “Those are both directionally important indicators for us,” he said in a Nov. 27 Bloomberg Television interview. Best Buy rose 77%, or 1.8%, to 43.60 at 10:18 a.m. in New York Stock Exchange composite trading.

$300 Laptops

Holiday sales make up a third or more of retailers’ annual profit. The International Council of Shopping Centers, another industry trade group, predicted sales at stores open at least a year will advance 1% in November and December after a year-earlier 5.8% decline, the worst in 40 years.

Wal-Mart, the world’s largest retailer, attracted consumers with $298 Hewlett-Packard (HPQ) laptop computers and other specials that went on sale at 5 a.m. the day after Thanksgiving. The stock declined 13% to 54.50 in New York Stock Exchange composite trading. Renee McDonald, 40, started waiting at 5 a.m. outside a Wal-Mart in Houston, hoping to purchase a television. When the store ran out, she bought a digital camera instead.

Black Friday shopping at J.C. Penney stores was strong throughout the U.S., the Plano [Tex.)-based retailer said in an e-mailed statement on Nov. 28. J.C. Penney and other retailers plan to report November sales on Dec. 3. The retailer fell 44% to 29.06 on the New York Stock Exchange.

At the Macy’s in New York’s Herald Square, shopper traffic appeared greater than a year ago, and tiffany bracelets to flow in after the initial rush, Chairman and CEO Terry Lundgren said. Jewelry and housewares were selling “briskly,” he said. Macy’s, based in Cincinnati, dropped 44% to 16.53 on the New York Stock Exchange.

“Last year we were just getting rid of the inventory we bought six months before,” Lundgren said. “This year we’ve had a year to think through what is the sales trend.”

Demand For Value Jewelry

When secured lenders in early December asked Buxbaum tiffany bracelets Advisors and LiquiTec Industries to sell off a foreclosed $1.5 million cost jewelry inventory before the end of the year, the deadline might have seemed unusually tight. But by reaching out to their extensive contacts in the secondary jewelry market, veteran liquidators at both firms carried out the sale in record time.

“The secured lenders needed the sale finished in fewer than 10 days,” noted Stevan Buxbaum, Executive Vice President of Agoura Hills, Calif.-based Buxbaum Group, one of North America’s largest liquidators and appraisers of retail and wholesale inventories. “The deadline was Dec. 31st, and we were finished with the sale by the 23rd.”

Demand for closeout merchandise continues to be strong among secondary-market buyers, who then resell these pieces to jewelry retailers looking to boost their margins by diversifying their offerings, Buxbaum explained. “We knew exactly which buyers would be most interested in this particular inventory and, sure enough, they responded quickly to this sale,” he said.

In the private treaty sale, New York-based Surya Capital acquired the inventory of Shine Diam, Inc. and J Designs By Shine, Inc. The two bulk lots included more than $1.5 million in diamonds, colored stones, finished jewelry and approximately 17,000 grams of 14-karat gold. All told, the hundreds of rings, necklaces, pendants, earrings, bracelets and bangles added up to more than 2,500 carats of diamonds, 11,000 carats of loose gems and 15,000 grams of 14k white and yellow gold pieces, all with stones.

“The secured lenders were quite happy with the recovery, which followed our recent successful sales of jewelry tiffany on sale from retailers and manufacturers such as Henrick’s Jewelers and House of Taylor,” Buxbaum said. “Like the rest of retail, the jewelry industry is looking for value, and closeout merchandise offers an excellent opportunity for chains to diversify their offerings at low cost.”

The current interest in gold as a repository of value also contributed to the success of this sale, Buxbaum added. “With the price of gold at approximately $1,100 an ounce, that certainly set a good baseline value for much of this inventory,” he said.

About Buxbaum Jewelry Advisors/Buxbaum Group

Buxbaum Jewelry Advisors has assembled a team of jewelry professionals that have provided wholesale and retail jewelers with financial solutions for more than 20 years. It offers a wide range of services and can meet the needs of both financially distressed and profitable jewelry retailers and wholesalers. It is a division of tiffany sale Hills, Calif.-based Buxbaum Group, which has built its reputation for over 30 years as one of the largest liquidators and appraisers of retail and wholesale inventories across North America.

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Valentine’s Day Sales Shifting from Retail to Restaurants

Valentine’s Day is upon us and industry research firm IBISWorld has tiffany its annual holiday sales forecasts.

This year, IBISWorld said that it expects total Valentine’s Day spending to be up 3.3 percent from 2009, reaching $17.6 billion. Because Valentine’s Day falls on a Sunday, the research firm anticipates consumers to move from traditional gift-giving towards dining out.

As described by the Company, additional findings are:

“Because Valentine’s Day lands on a Sunday, restaurants are likely to gain traffic throughout the entire weekend,” said Toon van Beeck, senior analyst with IBISWorld. “Furthermore, because President’s Day is on the following Monday, many consumers will be able to travel over the three-day weekend, further bangles restaurant sales.”

With consumers dining out and traveling, Valentine’s Day will not be as joyous for retailers. Men typically buy candies, flowers and jewelry during the work week, but since the holiday falls on a Sunday they will not feel as much pressure to purchase by Valentine’s Day. As a result, they are not as likely to take the time on the weekend to shop, opting instead for a romantic dinner out.

“Many retailers will see Valentine’s Day as an opportunity to kick start the new year, but the unemployment rate and continued uncertainty of the economic recovery will hamper growth and expansion,” explained van Beeck. “This combined with the fact that the holiday is a discretionary purchase, IBISWorld expects customers to remain on the shopping sidelines for the second consecutive year.”

One industry in particular that relies heavily on Valentine’s Day is florists, and businesses must work extra hard this year to achieve their desired sales. Research from the Society of American Florists shows that Sunday is the worst day for florists come Valentine’s Day, therefore making this year’s sales especially bleak. IBISWorld expects rings to counter this by pushing early promotions in an attempt to increase orders and building sales throughout the week leading up to the weekend holiday, opposed to just a day or two beforehand.

IBISWorld is an independent source of industry and market research, offering a database of information and analysis on every U.S. industry.

Zale Swings to Profit, Sales Remain Weak

Zale Corp. swung to a stronger-than-expected profit in its fiscal second quarter, snapping six straight quarters of tiffany pendant, although the struggling jewelry retailer’s sales remained weak.

On Tuesday, shares in Zale rose on a report that U.S. private equity firm Apollo Management LP might take a stake in the company, with plans to insert its own management team. Earlier this year, the company forced out its chief executive and two other top executives after rival Signet Jewelers Ltd.’s holiday results outshone Zale’s, although Signet has been outperforming Zale throughout the recession.

The company didn’t mention Apollo in its earnings release, but Chief Financial Officer Matt Appel said the company’s primary focus is to strengthen liquidity in the next 90 days “by attracting new capital.”

As for the business itself, interim Chief Executive Theo Killion said the company’s “direct competitors have demonstrated that the market for mid-tier jewelers has stabilized.” While the company’s gross margin, inventory levels and earnings have improved, it must focus on retail fundamentals and the core diamond business to improve sales, he added.

Job losses and tight credit have caused even high-income shoppers to forgo discretionary purchases liketiffany earring, forcing a swath of sellers to close shop. For its part, Zale has long been reducing its work force, inventory and store count after a failed foray into selling higher-priced items, a strategy meant to lure in more upscale customers. Its cost cutting has mitigated lower sales but hasn’t been enough to stave off the string of losses. It recently took the unusual step of asking its suppliers to purchase some of its inventory for cash.

For the quarter ended Jan. 31, the company posted a profit of $6.66 million, or 21 cents a share, compared with a year-earlier loss of $31.8 million, or $1 a share. Both periods were affected by impairments, accounting impacts and a change in deferred revenue. Excluding them and other items, profit rose to 38 cents from 34 cents. A survey of analysts by Thomson Reuters expected a two-cent profit.

Revenue slumped 15% to $582.3 million as same-store sales dropped 11%.

Gross margin rose to 49.8% from 44% because of less discounting during tiffany key ring holiday-selling season.

Write to Joan E. Solsman at joan.solsman@dowjones.com

Tiffany & Co. Announces Opening of New Boutique in Mexico City

 Tiffany & Co., the 160-year-old American jeweler of international renown, tiffanys today the opening of its first boutique in Mexico City, Mexico.  The new 758 square foot (70 square meters) boutique is located in El Palacio de Hierro department store in the city’s Polanco neighborhood.
The new boutique features elements of the famous New York flagship store with cherry wood accents and stainless steel detailing on the showcases and the vitrines.  The product offerings include a wide range of Tiffany classic fine and engagement jewelry, the exclusive designs of Paloma Picasso and Jean Schlumberger, an assortment of Tiffany watches and clocks, sterling silver gifts and accessories.  The boutique also feature the new designs from the Tiffany Nature Collection.
“Tiffany & Co.’s ongoing growth strategy includes establishing and expanding our retail presence in tiffany bangles communities within important international markets,” said Jim Quinn, Executive Vice President.  “The opening of the Mexico City store demonstrates our excitement about the prospects and growth in Mexico.”
Ms. Andrea Artigas, previously the manager of Mexico City’s largest independent jewelry store, is director of the boutique and oversees all sales and operations.
While the Mexico City store marks Tiffany & Co.’s first location in the metro region, the company currently enjoys wide success and recognition through retail partners in selected Mexican resorts.  The new Mexico City store continues Tiffany’s expansion into major international markets and will allow Tiffany & Co. to better serve new and existing customers in greater Mexico City region.  Other important markets in Latin America include Brazil, Argentina, Panama, Paraguay, Uruguay, Honduras and Costa Rica.
Tiffany & Co. is the internationally renowned jeweler and specialty retailer.  Sales are made through Tiffany & Co. stores and boutiques and to retailers, primarily in the United States, Asia Pacific, Europe, Canada, the Middle East and Latin America.  Direct Marketing sales are made through Tiffany’s Corporate and Catalogue tiffany rings.  A publicly held company, Tiffany & Co.’s shares are traded on the New York Stock Exchange (symbol: TIF).
SOURCE  Tiffany & Co.
     CONTACT: George Rudenauer of Tiffany & Co., 212-605-4132