Tiffany's holiday sales grow on strong spending by Chinese shoppers and a recovery in the Americas
), on Thursday estimated sales growth of 1% to 3% during the holidays, with the biggest contribution coming from China and a recovery in the Americas.
“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,” Bogliolo said on Thursday.Luxury retailers including Tiffany depend on China’s burgeoning middle class that has found an appetite for expensive jewelry and handbags, as consumer demand remains subdued in the United States and Europe due to various geopolitical reasons.
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Tiffany & Co. Holiday Sales Plunge In Japan, Grow In China Despite Unrest In Hong KongI’m a San Francisco-based reporter covering breaking news at Forbes. Previously, I’ve reported for USA Today, Business Insider, The San Francisco Business Times and San Jose Inside. I studied journalism at Syracuse University’s S.I. Newhouse School of Public Communications and was an editor at The Daily Orange, the university’s independent student newspaper. Follow me on Twitter rachsandl or shoot me an email rsandlerforbes.com.
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