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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.

Read more at Street Insider

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If It’s Time to Consolidate, It’s Time to Call Wilkerson

When Tom Moses decided to close one of the two Moses Jewelers stores in western Pennsylvania, it was time to call in the experts. After reviewing two candidates, Moses, a co-owner of the 72 year-old business, decided to go with Wilkerson. The sale went better than expected. Concerned about running it during the pandemic, Moses says it might have helped the sale. “People wanted to get out, so there was pent-up demand,” he says. “Folks were not traveling so there was disposable income, and we don’t recall a single client commenting to us, feeling uncomfortable. It was busy in here!” And perhaps most importantly, Wilkerson was easy to deal with, he says, and Susan, their personal Wilkerson consultant, was knowledgeable, organized and “really good.” Now, the company can focus on their remaining location — without the hassle of carrying over merchandise that either wouldn’t fit or hadn’t sold. “The decision to hire Wilkerson was a good one,” says Moses.

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