Tiffany & Co. cites lower demand from tourists as the reason for a drop in sales for a second quarter. Tiffany Chief Executive Alessandro Bogliolo told analysts that the strong dollar damped
purchases by foreign tourists in the U.S. “The jewelry company’s U.S. sales to foreign tourists—which account for about 12% of the total for its home region—fell 25% from the
year-earlier quarter, with sales to Chinese tourists off even more,” per the
Wall Street Journal.
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