The second largest in the world

Tiffany & Co. (NYSE:TIF) Tiffany suffered a double blow from the weak domestic market and the strong dollar during the holiday season. The group announced a cut in its full year earnings forecast, resulting in a sharp 6% decline in its trading session on Monday.

In the first two months ended December 31, 2014, the Tiffany & Co. (NYSE:TIF) Tiffany core market, the same store sales in the Americas, recorded a 1% decline. In the context of the largest growth in retail sales in the United States, the group fell for the first time in five consecutive quarters, compared with 6% growth in the same period last year.

Total sales in the Americas fell 1% to 544 million US dollars, unchanged at the fixed exchange rate.

During the period, the sales volume of the same group was identical with that of the same period last year, and the total sales volume decreased by 1% to 1 billion 20 million US dollars per year, a 3% increase according to the fixed exchange rate.

Asia Pacific same store

Driven by significant growth in China and Singapore, it rose by 6% over the same period, 4% in Europe and 8% and 6% in Japan and other markets, respectively.

By the end of the year, the group has 296 rooms worldwide.

An increase of 10 over the same period last year.

Tiffany & Co. (NYSE:TIF) Tiffany reduced the expected earnings per share from the previous 4.20-4.30 US dollar to US $4.32, less than the market expected US $3.73, and last year's earnings per share were US $3.73.

Group Chairman and chief executive officer, Michael J. Kowalski, said in the earnings report that the holiday season was disappointing. Although the "T" series has brought strong growth for the fashion gold category, other categories have not seen a wide range of sales growth.

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Stefano Ricci expects 2014 turnover to be higher than 150 million euros, an increase of 15% compared with 2013.

As for 2015's expectations, it is premature to consider the economic uncertainties facing certain key markets of the brand.

For example, the brand has four single brand stores in Russia (2 in Moscow, 1 in St Petersburg, 1 in Fort Catherine, which accounts for 7% to 8% of the total turnover of the brand), but the company said, "the consumption of new customers has declined, but the old customers have maintained their original level."

The stores in Kiev, Ukraine are even more in decline.

But in the United States, growth has been recorded.

"Especially our 2 exclusive stores in New York and the exclusive stores in Losangeles have been a great success."

This year, we plan to open 8 new Stefano Ricci stores. The flagship store in Shanghai will open in February. There is also a famous brand street in Milan, Via del Ges, and a Dusseldorf in Germany.

The group is managed by the Ricci family. It has been committed to the high-end line made in 100% Italy, and has been developing the international market in a big way.

The company expects to double sales in the first three months of this year.

It moved from Florence to Fei SSO Lai in 2012 and plans to increase its production capacity of 2500 square meters for leather production, which accounts for 40% of its turnover.