NEW YORK (AP) – Tiffany & Co. reported a 2% improve in early vacation gross sales on Tuesday, because of sturdy gross sales in China and on-line.
The New York-based jewellery firm mentioned its internet gross sales for the Asia-Pacific area elevated 20% between November 1 and December 31 in comparison with the identical interval in 2019. That included a rise of greater than 50% in enterprise in China. Gross sales in America fell 5%, whereas enterprise in Europe fell eight%, whereas they elevated eight% in Japan.
On-line gross sales elevated greater than 80% in the course of the interval.
Tiffany mentioned worldwide gross sales at shops open for at the least one 12 months elevated four% over the vacation interval. By area, Asia Pacific loved a 27% improve in gross sales, whereas Japan had a 10% improve. Europe registered a 6% drop, whereas America had a four% drop.
In late October, Tiffany agreed to be purchased by French luxurious conglomerate LVMH Moët Hennessy Louis Vuitton for $ 15.eight billion, down from the $ 16.2 billion that have been first supplied final 12 months.
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