Saturday 25 January 2020

Sales sparkle: China drives festive growth at jeweller Tiffany & Co

Signage is displayed outside the Tiffany & Co. store on Fifth Avenue in New York. Photo: Mark Kauzlarich/Bloomberg
Signage is displayed outside the Tiffany & Co. store on Fifth Avenue in New York. Photo: Mark Kauzlarich/Bloomberg

Reuters

Tiffany & Co estimates its sales during the Christmas season rose by 1pc to 3pc, with the biggest contribution coming from China.

"We continued to see the Chinese mainland drive our overall sales growth with a strong double-digit increase, offset by the persisting declines in the Hong Kong market and, to a lesser degree, Japan," CEO Alessandro Bogliolo said.

Net sales in China, for the interim holiday period from November 1 to Christmas Eve, rose about 5pc to 7pc.

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