Tiffany: holiday sales short of expectations
(CercleFinance.com) - Tiffany & Co.
expects to report record levels of net sales and net earnings in fiscal 2018, despite overall holiday sales figures that came in short of its expectations.
The US jeweler said worldwide net sales declined 1% to 1.04 billion dollars in the two months ended December, while the company was looking for modest year-on-year growth.
Comparable sales fell 2%.
In a statement, Tiffany blamed lower sales on fewer Chinese tourists globally, and to weakening demand attributed to local customers in the Americas and Europe.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
expects to report record levels of net sales and net earnings in fiscal 2018, despite overall holiday sales figures that came in short of its expectations.
The US jeweler said worldwide net sales declined 1% to 1.04 billion dollars in the two months ended December, while the company was looking for modest year-on-year growth.
Comparable sales fell 2%.
In a statement, Tiffany blamed lower sales on fewer Chinese tourists globally, and to weakening demand attributed to local customers in the Americas and Europe.
Copyright (c) 2019 CercleFinance.com. All rights reserved.