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
Copyright (c) 2019 CercleFinance.com. All rights reserved.
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
Copyright (c) 2019 CercleFinance.com. All rights reserved.