Will Tiffany's fourth quarter tumble begin a rumble of further downgrade announcements to come? According to an article in Forbes.com today "The jeweler's same-store sales dropped 24% because of soft sales at U.S. stores. Analysts polled by Thomson Reuters expect earnings of 80 cents per share and fourth-quarter sales of $838 million".
Tiffany is expected to report to the market before it opens on Monday 23, they have recently closed all of their peal stores in the US. Tiffany had continued on an expansion path with strong growth (and plans for further growth over the next five years) in the Asia Pacific and Oceania region.
Originally considered a luxury brand Tiffany, by way of its expansion and high volume sales in their sterling silver line is often not considered a luxury but more a premium prestige brand now due to its wider reach and price point strategy.
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