Just in case you haven’t jumped into Google News recently, an article was published regarding Tiffanys and Co, and how they are winning big when it comes to gold. As a jeweler, they absolutely have the upper hand in the gold market if they deal with the right sources. Needless to say, Tiffanys proudly posted up fourth quarter earnings, showing that they were successful without a hitch in the Asia-Pacific region.
While global sales were flat, it seems that gold was kind to them to close for 2012. Diamonds may have taken a hit and while many say that was to be expected, it didn’t stop Tiffanys from delivering the right numbers for the year in total. Their new earnings for the year? Proudly, they ended up with $180 million in sales, but what is to come for 2013?
Tiffanys and Co Expectations for 2013
Markets vacillate, we know that. It’s no mystery that we have no idea what markets are going to do. Even when numbers look good for retailers, we often forget that they go by a fiscal year, which means it isn’t always from January to January. However, the CEO Michael Kowalski was anxious to let the public know he was disappointed with the final numbers, but that he was looking forward to a more profitable year ahead. Call me crazy, but I still think he should be relieved at a time when it seemed no retailer; especially a high end retailer would do well.
It could be that because Wall Street made their own forecast, and, as a result the numbers he was looking at were a hair below their forecast. What did Tiffanys and Co do worldwide? Worldwide, sales rose 4%, and that was a nice number for that figure as well. The most impressive figure was the one attached to the rise in internet sales, totaling 6% altogether!
Regardless of what Wall Street thinks or analysts think, Kowalski believes that there will be 6% to 8% increase in sales worldwide, causing all eyes to be on Tiffanys. This is a company that has been around for quite some time, and they are viewed as one of the key players in the jewelry business. Gold is a metal that goes up and down, but while jewelry is somewhat affected, it’s not the same as buying bullion. Well, that is unless you are purchasing 24 karat gold!
Tiffanys and Co Doesn’t Sell Bullion!
So, are you fascinated with the growth of luxury companies? Some are, and while we can get starry eyed, the fact remains that they have another year to watch to see how things turn out. It’s always interesting to watch how these companies do, not to mention that they could go either way. Really, they could!
The real question is, whether or not you know what to do, and how to buy gold. Even if Tiffanys sales are good, don’t let that mislead you into believing that you should buy luxury items to protect you against inflation. The gold you need to buy for the future is gold bullion, and time is wearing thin. Remember, as inflation approaches we must be mindful of every dollar we spend, and where and how we spend it. In fact I recently wrote an article on how we may Trade Gold? Why You Will in the Near Future!
There has never been a better time to take an assessment of where we are as a country financially, and the time is now. Find out why Tiffanys and Co news is all that important, but why you need to lay your hands on gold bars instead!