Tiffany (TIF) - Key Quotes on China from Q4 2004 Conference Call

Includes: JADE, TIF
by: Ezra Marbach

Jewelry and giftware retailer, Tiffany & Co. (ticker: TIF), announced Q4 2004 results earlier this week. Here are some key quotes from the company's conference call:

On developments in China:

....sales in China are far exceeding our expectations, although the absolute numbers are too small yet to affect overall sales growth. During 2004 we opened new stores in Shanghai's City Plaza and in the Taipei Financial Center….we're very pleased with initial results in all those stores, and believe that the Asia-Pacific region and especially China, offers exciting and meaningful growth potential for many years to come.

Tiffany now has two stores in China, a market that we and other luxury brands believe can provide substantial growth over the long-term.

Quick thought: China-based, LJ International (ticker: JADE), which is engaged in designing, branding, marketing and distributing
a full range of jewelry, is banking on growth in the Chinese luxury brand market as well, having recently opened a number of retail stores on the Mainland. More here.

(Quotes are from the CCBN StreetEvents transcript.)