Tiffany’s comp sales fall short as spending by Chinese tourists slows (TIF)
|11/28/2018||Posted by BusinessMediaguide.Com under General World News||
- Tiffany reported third-quarter comparable sales that fell short of Wall Street estimates as spending by Chinese tourists slowed in some regions.
- The high-end jeweler also missed on both the top and bottom lines.
- Full-year earnings guidance also fell short.
- Shares plunged more than 11%.
- Watch Tiffany trade live.
Tiffany shares tumbled Wednesday morning, down more than 11%, after the company reported comparable sales that fell well short of Wall Street estimates.
The high-end jeweler said total comparabale sales, excluding foreign-exchange fluctuations, rose 3% in the third quarter, missing the 5.6% gain that analysts surveyed by Bloomberg were expecting. It reported earnings of read more >>>