Thursday, August 29, 2019

Tiffany Q2 earnings top Street but sales miss amid Hong Kong protests

Chain Store Age
Tiffany & Co. reported earnings that easily topped analysts’ expectations but its sales fell short amid protests in Hong Kong and a decline in tourist spending in the U.S.

Sales fell to $1.05 billion from $1.08 billion, missing Street estimates of $1.06 billion. Global same-store sales decreased 4%. Same-store U.S. sales fell 4%. Tiffany said it had “strong growth” in mainland China but “softness” in Hong Kong.. . . more

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