News Formal

Tiffany shares climb as earnings beat outweighs slowdown in tourist spending

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 45 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 21%
  • Publisher: 51%

Belgique Nouvelles Nouvelles

Belgique Dernières Nouvelles,Belgique Actualités

Tiffany attributed its weak revenue in the second quarter to a decrease in sales to international tourists in the US.

rose as much as 5% on Wednesday as the company's second-quarter earnings beat offset declining revenue due to a slowdown in tourist sales.

The luxury jeweler saw its global sales fall by 3% in the second quarter as international tourists decreased spending in the US amid a strong dollar. International shoppers are an important stream of revenue for Tiffany, particularly in the retailer's New York store.Watch Tiffany trade liveShares of Tiffany & Co. climbed as much as 5% on Wednesday as the retailer's better-than-expected earnings outweighed a declined in sales. Revenue fell due to a drop-off in demand for luxury jewelry among international tourists.$1.04 billion, compared to $1.

"Second quarter sales results were also impacted by a continued sharp decline in sales to both Chinese and all other tourists, which we believe lowers our reported sales by a couple of percentage points," Chief Executive Officer Alessandro Bogliolo said during the company's earnings call.

 

Merci pour votre commentaire. Votre commentaire sera publié après examen.

They buy mass-manufactured cheap stuff from abroad and sell for outrageous prices

Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:

 /  🏆 729. in BE

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

US stocks rally on optimism for a US-China trade war thawMARKETS: Technology and communications companies led stocks broadly higher as cautious optimism about the potential for progress in the costly trade war between the U.S. and China put investors in a buying mood. Then our deranged “president” will say something tomorrow to make them tank again. Trump is gaslighting. Think the trade war’s costly, you should see the complacency bill.
La source: ABC - 🏆 471. / 51 Lire la suite »

Tiffany sales fall on tourist spending drop in U.S., but earnings beat estimatesLuxury jeweler Tiffany & Co said on Wednesday declines in tourist spending in th... Chinese tourists not thrilled anymore by the US? $TIF FREE T SHIRT IS NOT HAPPY
La source: Reuters - 🏆 2. / 97 Lire la suite »