• China's growth slows, as does tourist spending at Tiffany

    17 days ago - By Chron

    NEW YORK - There was something missing at the luxury jeweler Tiffany & Co. in recent months: Chinese tourists.
    While the company said Wednesday that third-quarter revenue rose 4 percent to just above $1 billion, industry analysts were anticipating a bigger boost. Some of that unexpected drag has occurred as tourists, particularly Chinese tourists, pull back on spending in places like New York and Hong Kong.
    Company shares plunged 11 percent Wednesday and there is concern that sales at Tiffany are a dark omen for the entire luxury retail sector.
    And Tiffany was not the first company to...
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  • China's growth slows, as does tourist spending at Tiffany's

    17 days ago - By Chron

    NEW YORK - Evidence of China's slowing economy popped up in the sales numbers posted by Tiffany & Co.
    While revenue rose 4 percent to just above $1 billion in the third quarter, industry analysts were anticipating a bigger boost. Some of that unexpected drag is taking place because spending by Chinese tourists is falling.
    Company shares plunged more than 11 percent before the opening bell and there is some concern that sales at Tiffany are a dark omen for the entire luxury retail sector.
    Chinese economic growth declined to a post-global crisis low of 6.5 percent in the quarter than ended...
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  • Tiffany's comp sales fall short as spending by Chinese tourists slows

    Tiffany's comp sales fall short as spending by Chinese tourists slows

    17 days ago - By Business Insider

    Tiffany reported third-quarter comparable sales that fell short of Wall Street estimates as spending by Chinese tourists slowed in some regions.
    The high-end jeweler also missed on both the top and bottom lines.
    Full-year earnings guidance also fell short.
    Shares plunged more than 11%.
    Watch Tiffany trade live .
    Tiffany shares tumbled Wednesday morning, down more than 11%, after the company reported comparable sales that fell well short of Wall Street estimates.
    The high-end jeweler said total comparabale sales, excluding foreign-exchange fluctuations, rose 3% in the third quarter, missing...
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  • Tiffany sales miss as Chinese tourists spend less than anticipated

    17 days ago - By Reuters

    Tiffany & Co's sales in the United States and Hong Kong took a hit in the latest quarter as Chinese tourists spent less than expected, sending the jewelry maker's shares down nearly 8 percent on Wednesday.
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  • Tiffany misses sales estimates on weak spending by Chinese tourists

    17 days ago - By Reuters

    Tiffany & Co missed estimates for quarterly same-store sales on Wednesday, blaming lower-than-expected spending by mainland Chinese tourists at its U.S. and Hong Kong stores.
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  • Tiffany misses quarterly same-store sales estimates

    17 days ago - By Reuters

    Tiffany & Co missed estimates for quarterly same-store sales on Wednesday, hit by lower-than-expected spending by Chinese tourists at its U.S. and Hong Kong stores.
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