蒂芙尼（Tiffany & Co）于上周三發布的季度銷售額再一次令人失望，他們向投資者發出警告，表示由于游客在珠寶和低價飾品上的花費降低，類似的情況預計還會在未來出現。

這家以羅賓鳥蛋藍的盒子而著稱的珠寶商表示，排除匯率變動影響后，公司的全球同店銷售額，或網店以及開張一年以上的門店銷售額，在第一季度下跌了9%。Consensus Metrix報道稱，這樣的下滑幅度幾乎是分析師預測的兩倍。

自從2008-09年全球金融危機遭遇低谷后，這是蒂芙尼季度銷售額下滑最嚴重的一次。

除了貢獻五分之一銷售額的日本之外，蒂芙尼在其他市場的銷售額都出現了下滑。蒂芙尼的高管認為：“本地消費者和外國游客的消費都持續疲軟。”

由于美元開始走弱，蒂芙尼近年來積極擴張，希望從中國游客和其他國際游客那里贏得商機。有鑒于此，目前的現象對這個零售商來說是個大問題。

在蒂芙尼的第二大市場亞太地區，公司的同店銷售額下跌了15%，因為中國大陸的游客前往香港等中轉站購買商品，從而大大減少了消費。歐洲的銷量情況與此類似。美國是蒂芙尼的本土市場，也是迄今為止公司最大的市場。在這里，游客貢獻了25%的銷售額。而在整個美洲市場，同店銷售額下跌了10%。

蒂芙尼并不是唯一銷量下滑的商家：從梅西百貨（Macy’s）到尼曼（Neiman Marcus）在內的零售商都表示近來游客消費減少，嚴重影響了他們的收入。蒂芙尼的一位負責投資者關系的高管在上周三的電話會議上對華爾街的分析師表示，公司預計宏觀經濟因素對珠寶商的沖擊會“在某個時刻”減輕。

蒂芙尼可以控制的因素之一，是其售價低于500美元、卻貢獻了銷售額四分之一的銀首飾。不過盡管公司花費很大功夫去提高這一系列產品，效果卻仍舊不明顯。

去年，蒂芙尼重新推出了手表業務，試圖讓公司煥發生機，《財富》曾對此予以了報道。最近，蒂芙尼又攜手奢侈品網店Net-A-Porter，在170個國家的網絡上出售珠寶。但公司只有6%的銷售額來自于網絡。

然而現在還有更多的挑戰在等待著蒂芙尼。公司下調了2016年的收益預期，如今預計全年的每股收益將有5%左右的下跌。而起初的預計是每股收益不變，或最多有5%的下跌。

僅僅過了一個季度，公司就開始下調年度預期，這可是個不尋常的壞消息：這意味著蒂芙尼不認為自己能彌補第一季度的損失了。（財富中文網）

譯者：嚴匡正

Tiffany & Co once again reported disappointing quarterly sales and warned investors on last Wednesday to expect more of the same as tourist spending on jewelry and sales of lower-priced items slows.

The jeweler, famed for its robin’s-egg-blue boxes, said global comparable sales, or sales at stores open at least a year plus online, fell 9% globally in the first quarter, stripping out currency fluctuations. That was almost double what analysts expected, according to Consensus Metrix.

It was also Tiffany’s sharpest drop in quarterly sales since the depths of the global financial crisis in 2008-09.

Sales fell in every market but Japan, which generates about one-fifth of sales, and Tiffany executives blamed a “continuation of softness in spending by both local customers and foreign tourists.”

That’s a major problem for a retailer that has expanded aggressively in recent years, hoping to win business from Chinese and other travelers across the world as the strength of the greenback translates into fewer U.S. dollars.

Tiffany’s same-store sales in the Asia Pacific region, its second-biggest market, plummeted 15% as mainland Chinese visitors to hubs like Hong Kong sharply reduced their spending. European sales suffered a similar fate. In the U.S., Tiffany’s home market and by far its largest, tourists account for 25% of sales. For the Americas as whole, comparable sales dropped 10%.

Tiffany is not alone: Retailers from Macy’s to Neiman Marcus have said that lower tourist spending is cutting deep into their business these days. A Tiffany investor relations executive told Wall Street analysts on a conference call last Wednesday that the company expects the macro-economic factors hitting the jeweler will abate “at some point.”

One factor that is within Tiffany’s control is its assortment of silvery jewelry items that cost less than $500 and account for about one-quarter of sales. But despite big efforts to improve that assortment, results there have remained soft.

In the last year, Tiffany has sought to re-energize its business by relaunching its watch business, as chronicled by Fortune last year, and more recently, a tie-up with online luxury store Net-A-Porter to sell some jewelry online in 170 countries. Tiffany only gets 6% of its sales online.

For now though, more challenges lie ahead. Tiffany lowered its 2016 profit forecast and now expects a mid-single-digit percentage drop in its full-year earnings per share, compared to its initial forecast for them to stay unchanged or fall by a mid-single digit percentage at most.

A company lowering its annual forecast after only one quarter is unusual and a bad sign: It means Tiffany & Co doesn’t expect to be able to make up for the shortfall.