Tiffany and Co: Recent Events and Their Effects on the Company
The first news entry under consideration is from the Reuters website posted there 16 March 2018. It is written by the Reuters staff, and it provides a brief overview of the company’s performance as of March 16. Primarily, the article states that, according to the Tiffany and Co’s report, the company’s revenues rise 8,5 percent (Venugopal, Tiffany Quarterly Revenue Rises). According to the news entry, this fact is strongly connected with the fact that the holiday shopping season provokes higher demand for the company’s products.
However, the next news article on the same website, also written by Venugopal and posted on March 16, dwells upon more particular analysis of the company’s performance. It is stated that Tiffany and Co’s sales were declining for several quarters, and also its shares fell as much as 7.5 percent (Venugopal, Tiffany’s Misses on Same-store Sales). The company’s insufficient outcomes are discussed since January in media, and it is possible to state that Tiffany and Co have decided to make several steps to diversify its sources of revenue. Therefore, it is evident that media coverage has a positive effect on the company efforts.
The third news article is the most recent one on the topic (posted on the Zacks website 21 May 2018), and it reflects the stakeholders’ interest in the company’s further actions. The article aims to predict the results of Tiffany’s first-quarter fiscal 2018 report on May 23 (Will Tiffany (TIF) Manage to See Higher Earnings in Q1?). According to the authors from the Zacks website, the company is not likely to beat earnings estimates this quarter (Will Tiffany (TIF) Manage…). Even if this assumption will be proven to be right by the results of the report, it is possible to predict that the company will be challenged to continue its efforts on extending the revenue.
Tiffany and Co: Overview of the Company
This section is dedicated to the overall overview of Tiffany and Co. First of all, it is essential to provide basic information about the company. Primarily, the company is the retailer of luxurious jewelry that is the company’s most recognizable product. However, Tiffany and Co decided to introduce cheaper pieces of jewelry and interior home decorations to appeal to wider customer range (Venugopal, Tiffany’s Misses on Same-store Sales).
Nevertheless, the company is largely recognized as one of the central companies in the premium jewelry industry. The company’s profits come primarily from sales in its authorized stores that are located in various cities and countries around the world. The most famous and brand-associated locations are, of course, the stores located in Manhattan, New York and also in Paris.
It is also appropriate to provide an additional historical context. As it is stated in the article by Alexander and Doherty, Tiffany and Co was the first American company that made international retailing of jewelry to be the basis of their business. The company was founded in New York in 1837, and since then it began to develop strong connections with European markets (Alexander & Doherty 307). Thus, Tiffany and Co were able to become a world-famous brand, which is well recognized and respected in the world.
As of current state of the company, it is possible to state that it continues to be among the leaders in its industry. The company’s established public image as a luxurious brand continues to serve as the primary factors of its targeting and positioning strategies (Kaur). Tiffany and Co also strive to increase its customers’ social engagement through social media platforms (Dai 3). In overall, it should be stated that Tiffany and Co represents a strong brand and successfully operating company.
Works Cited
Alexander, Nicholas, and Anne Marie Doherty. “The Origins of American International Retailing: Tiffany of New York in London and Paris, 1837–1914.” Business History Review, vol. 91, no. 2, 2017, pp. 301-328.
Dai, Wei. “The Relationships Among Customers’ Social Engagement in FACEBOOK, Brand Equity, Customer Satisfaction, and their Intention to Purchase Tiffany Jewelry.” (2017).
Kaur, Jasleen. “Allure of the Abroad: Tiffany & Co., Its Cultural Influence, and Consumers.” M/C Journal, vol. 19, no. 5, 2016. Web.
Venugopal, Aishwarya. “Tiffany’s Misses on Same-store Sales, Forecast Disappoints.” Reuters. Web.
—. “Tiffany Quarterly Revenue Rises 8.5 Pct on Strong Holiday Quarter.” Reuters. Web.
“Will Tiffany (TIF) Manage to See Higher Earnings in Q1?” Zacks, 2018. Web.