Futu News reported on August 28 that Tiffany announced its financial report for the third fiscal quarter of fiscal year 2019. After opening sharply lower, it rebounded and continued to rise. As of press release, it had risen 4.01% to 85.984 US dollars, with a turnover of 547 million US dollars.

According to Tiffany's financial report for the third fiscal quarter of FY2019, global sales during the period fell 3% year on year to US$1,048 million, and same-store sales fell 4%; net profit fell 6% year on year to US$136 million, but exceeded market expectations of US$132 million.

The jewellery division's sales were the same year over year, with engagement and designer jewellery sales falling 3% and 10%, respectively. Affected by the decline in overseas tourist sales, Tiffany's sales in the US continued to decline, with a year-on-year decline of 4% in both the second quarter and the first half of 2019. The only highlight of the financial report is that sales in mainland China have maintained double-digit growth.

CEO Alessandro Bogliolo said at the earnings conference that he continues to be optimistic about China's demand growth and will strengthen online communication with Chinese consumers. Tiffany just launched its official website in China this year. Previously, it only had e-commerce services on its official website in Europe, America, and Japan.

In addition, Tiffany maintained its full-year sales growth guidelines for low single-digit growth.

Oppenheimer maintained Tiffany's rating to outperform the market, with a target price of $100.00.