Shine comes off Tiffany's sales
Friday 25 May 2012
The New York-based jeweller Tiffany & Co lowered its annual sales and profit forecasts yesterday, citing slowing economic growth in many countries and weakness in its home market.
Rival Signet Jewelers also issued a disappointing forecast and posted first-quarter results that showed slowing growth in its US sales, particularly at its higher-end Jared chain.
Tiffany reported lower-than expected first-quarter earnings and said it now expects global net sales to be up 7 to 8 per cent for the year, compared with its earlier forecast for a 10 per cent gain.
Signet also reported signs of a slowdown, with US same-store sales up just 1.2 per cent in the quarter, against growth of 11 per cent a year ago. But its British sales, which account for one-fifth of company revenue, rose, continuing to improve despite a difficult retail environment.
- 1 Scottish referendum: So how about the English now being given a chance to split from England?
- 2 Friends 20th anniversary: Alison Jackson photographs reunited cast
- 3 Friends 20th anniversary: The highs and lows of the cast's careers since 2004
- 4 The response to my Pizza Express review has been overwhelming, and taught me a lot about journalism
- 5 Free U2 album: How the most generous giveaway in music history turned into a PR disaster
Scottish independence: Despite defeat history may still point to Alex Salmond as the victor
Scottish independence referendum: Frankie Boyle reacts to nation's 'No' vote - 'To be fair, I've always hated Scotland'
Iranian blogger found guilty of insulting Prophet Mohammad on Facebook sentenced to death
Scottish referendum: Police struggle to control Unionist rally in Glasgow's George Square
Hitler’s former food taster reveals the horrors of the Wolf’s Lair
Daniele Watts: Django Unchained actress detained by Los Angeles police after being mistaken for a prostitute
Scottish independence referendum: A nation divided against itself
Scottish referendum results: Cross-party consensus collapses amid Tory-Labour spat on the 'English question'
Scottish independence: David Cameron is becoming the 'George Bush of Britain'
Russia freezes Ukraine into submission: Kiev admits country doesn't have enough fuel for winter
Scottish independence: The Queen breaks silence on referendum debate – as think tank warns of £14bn black hole if Scotland votes Yes
iJobs Money & Business
£400 - £450 Per Day: Clearwater People Solutions Ltd: **URGENT CONTRACT ROLE**...
Up to £100k or £450p/d: Saxton Leigh: My client is a leading commodities tradi...
£320 - £330 per day: Ashdown Group: The Ashdown Group have been engaged by a l...
To £75,000 + Pension + Benefits + Bonus: Saxton Leigh: My client is looking f...