Panda Retail donates over AED 600,000 to UAE Down Syndrome Association


March 3, 2015 | By RetailME Bureau

US-based luxury jewellery retailer Tiffany & Co., in which the Qatar Investment Authority (QIA) owns an 8.7% stake, reported fourth quarter results that were up on an on-going basis despite economic environment, but were turned into a loss by an unfavourable arbitration ruling. The company incurred a net loss of $103.6 million for the quarter ended January 31, 2014 (fiscal 2013), compared to net income of $179.6 million in the fourth quarter of fiscal 2012.

The current year fourth quarter included a net charge of $473 million pre-tax ($293 million after tax) related to an adverse arbitration ruling in favour of The Swatch Group Ltd. Without the unfavourable arbitration ruling, Tiffany & Co.’s quarterly net income would have been $189.8 million, up 6% over last year’s $179.6 million.

Net sales for the quarter stood at $1.30 billion up 5% over last year’s $1.24 billion. Sales were up in all major geographic regions on a constant-currency basis. Net sales for the year of $4.03 billion were up 6% over last year’s $3.79 billion.

“We are proud of our performance this past year. Sales and operating earnings (excluding the arbitration-related charge) rose to record levels. Sales growth was led by fine and statement jewellery, new or expanded jewellery collections including Atlas, Ziegfeld and Harmony collections, and continuing strength in our iconic jewellery designs,” says Michael J. Kowalski, Tiffany & Co.’s chairman and CEO.

Comments

comments

Previous Article Next Article

YOU MAY ALSO LIKE /



Union Coop, a consumer cooperative in the UAE, revealed that 78% of 

Continue Reading

August 24, 2021 | By Jibran Chouguley

Union Coop has opened its 23rd branch within the UAE in Jumeirah 

Continue Reading

August 2, 2021 | By Jibran Chouguley

Nando’s has revealed their revamped Sheikh Zayed Road outlet where newcomers and 

Continue Reading

July 8, 2021 | By Jibran Chouguley

UAE-based Al Maya Group announced that it will be boosting import of 

Continue Reading

June 24, 2021 | By RetailME Bureau

UAE-based grocery retail chain, Grandiose has opened its first hypermarket in Abu 

Continue Reading

June 2, 2021 | By RetailME Bureau

UAE-based Carrefour announced its theme and plans for Ramadan 2021. The brand 

Continue Reading

March 31, 2021 | By RetailME Bureau

Locally owned supermarket Spinneys celebrates 60 years of doing business in the 

Continue Reading

March 9, 2021 | By RetailME Bureau
Almarai, Carrefour, Emirates have the most loyal customers

UAE-based Carrefour will become the first retailer in the region to offer new levels 

Continue Reading

February 22, 2021 | By RetailME Bureau

The Organic Farmers’ Market is back in Bay Avenue for its 12th 

Continue Reading

February 17, 2021 | By RetailME Bureau

UAE-based  Lulu Group recently inaugurated its first-ever all-female staff store in Jeddah, 

Continue Reading

February 15, 2021 | By RetailME Bureau
Jones the grocer

Jones the Grocer, the gourmet grocer and cheese retailer launches the Jones 

Continue Reading

February 1, 2021 | By RetailME Bureau

UAE-based Al Maya Supermarkets is hosting a two-week food festival at select 

Continue Reading

January 17, 2021 | By Lawrence Pinto




Download Images RetailME Magazine