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Tiffany’s Sales Drop for Fifth Straight Quarter

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Weak global economy, strong dollar cited as the culprits.

Tiffany & Co. reported a 5.6 percent decrease in sales for the holiday quarter, the fifth consecutive quarter during which sales have slid, Reuters reports. The news outlet wrote that weakness in the global economy and a strong dollar are the chief factors that have hurt high-end retailers like Tiffany, especially as the upscale jeweler remains reluctant to offer promotions. The retailer’s profit, however, beat Wall Street’s expectations as it raised prices and benefited from lower prices of diamonds, gold and silver.

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