Tiffany, 2014 Brilliant but Not Golden

Business for Tiffany, but without sparkle. The world’s largest jewelry group announced that it recorded profits of 196 million dollars in the fourth quarter (closed from an accounting point of view in January 2015), and profits of 484 million dollars for the entire year, up from 181 million the previous year. But it could have done better if the dollar had not strengthened against the euro. In the three months ended at the end of January, in fact, Tiffany saw sales decrease by 1% to 1.3 billion dollars. And the future? The company has announced that it expects “minimal growth” in profits compared to 2014, with a 30% drop in net profits in the first three months of the new fiscal year