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Tiffany's Sales Drop 5.6 Percent in Holiday Quarter

Tiffany & Co's sales fell 5.6 percent in the holiday quarter as a strong dollar hurt tourist spending at its stores in the United States and ate into revenue from other markets.
Tiffany & Co box | Source: Flickr/Minxlj
By
  • Reuters

NEW YORK, United States — Tiffany & Co's sales fell 5.6 percent in the holiday quarter as a strong dollar hurt tourist spending at its stores in the United States and ate into revenue from other markets.

Sales at the upscale jeweler's established stores open for at least a year fell 10 percent in the Americas region in the fourth quarter.

Its net income fell to $163.2 million, or $1.28 per share, in the quarter ended Jan. 31 from $196.2 million, or $1.51 per share, a year earlier.

Revenue fell to $1.21 billion from $1.29 billion.

By Ramkumar Iyer and Yashaswini Swamynathan; editor: Kirti Pandey.

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