Tiffany & Co. Sales Lose Sparkle Amidst Fading TourismA worldwide financial meltdown seems to be making the world by storm, also it appears like the guts East is not alone.Because the peak with the crisis, Tiffany & Co has reported its sharpest quarterly sales drop yet. That has a strong dollar going up, tourists are discouraged from buying high-end jewelry and eroded make money from markets beyond your USA.On Wednesday, Tiffany shares fell a startling 4.5% in pre-market trading. Its stores within the Americas for than the usual year-old also reported a 10% decline in the very first quarter. Nearly half of last year's total sales were related to south america.Neil Saunders, Conlumino's ceo finds the fall in customer share "evident among most shopper segments, including more affluent households"."It is very pronounced among affluent younger shoppers where the brand is viewed as representing old school luxury," he was quoted saying.A search from Consensus Metrix discovered that normally, analysts had already predicted a 9 replica rolex swiss watch .1% drop.Frederic Cumenal, chairman and CEO of Tiffany & Co., declared that this company was increasingly pressured by fading tourism from Asia and europe. Hong Kong for example became a growing concern, as China's weakening economic growth has ended in waning tourist traffic.Prior to close of trading, Tiffany's shares were at $61. By Tuesday's close, stock shares have lost its sparkle ladies rolex replica watches , reporting over the quarter of the company's value lost within the last year.
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