Tiffany: sales enjoy low-single-digit holiday season growth
(CercleFinance.com) - Tiffany said worldwide sales for the holiday season increased approximately 1-3% compared to the same period in 2018, according to preliminary results provided on Thursday.
During the period from 1 November through 24 December - an important season for the US upscale jeweler - the company continued to see the Chinese Mainland drive overall sales growth, with a "strong" double-digit increase, it said.
The rise, however, was offset by staedy declines in the Hong Kong market and, to a lesser degree, Japan - which has been negatively impacted by the recent increase in the consumption tax, Tiffany said.
Europe sales rose by 3-5% over the holiday period, it added. Tiffany said it was also happy to see sales growth in the Americas, up 2-4%, which the group considers as "a momentum shift" in the region.
Tiffany has recently agreed to be acquired by French luxury giant LVMH
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