Pursuits
Tiffany Rises as Domestic Growth Makes Up for Global Slump
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Tiffany & Co., the world’s second-largest luxury jewelry retailer, rose 2.5 percent after higher-than-projected sales in the Americas helped make up for a slowdown in Asia last quarter.
Same-store sales increased 11 percent in the Americas in the third quarter, the New York-based company said in a statement today. That topped the 6.1 percent predicted by analysts, according to Consensus Metrix. The sales declined 3 percent in the Asia-Pacific region and 6 percent in Japan, where a new consumption tax hampered orders.