Tags: Tiffany | Holiday | Sales | profit

Tiffany Cuts Profit Forecast on Weak US Holiday Sales

Tuesday, 10 Jan 2012 09:35 AM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

Jewelry retailer Tiffany & Co. says its sales growth weakened in the U.S. and Europe during the holiday season, raising fears that the wealthy may be beginning to rein in spending.

The company known for its iconic turquoise box cut its yearly guidance. Its shares fell more than 7 percent in premarket trading.

Total sales rose 7 percent to $952 million in November and December, helped by a 19 percent jump in the Asia-Pacific region.

But in the U.S., revenue in stores open at least one year rose just 2 percent. The measure is considered a key gauge of a retailer's performance.

Higher sales to tourists in the U.S. were offset by weaker spending by U.S. customers. Online and catalog sales were a particularly weak spot. Revenue fell 4 percent in that category.

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Jeb Bush: I 'Quit Worrying About' Name Liability 'A Long Time Ago'

Friday, 24 Oct 2014 23:22 PM

Former Florida Gov. Jeb Bush was non-committal to South Carolina donors and business leaders questioning him about his p . . .

Cornyn, Democrat Alameel Meet in Only Debate

Friday, 24 Oct 2014 21:35 PM

Problems with the nation's immigration system have dominated a debate between U.S. Sen. John Cornyn and Democratic chall . . .

GOP Makes Inroads in Mass. Statewide Elections

Friday, 24 Oct 2014 19:51 PM

Republicans in solidly blue-state Massachusetts have been surging in major statewide campaigns in recent years - includi . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved