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Tiffany sells to Chinese tourists to break down, & # 39; falling quickly



Tiffany & Co said on Wednesday that they were losing estimates such as tourists. There was less than US dollar stores in Hong Kong and Hong Kong's expectations, company decreased by 13 per cent.

Reservoirs were also disappointed by the 181 year-old company. failed to build her full-year profit ahead of the holiday season and by selling a single storey at a slower pace than expected.

Tiffany shares fell 11.8 per cent for closing at $ 92.54.

Chief Executive Alessandro Bogliolo tried to help investors to spend out of China, selling in the country was strong.

"We can consider the reasons why tourists spend down China but the truth is that the Tiffany logo creates Chinese customers as can be seen from the strong strong strength in China's continent in the fourth quarter, "he said on the loss of the Vice-

Some of the increase in the demand in China's mainland may have been named as a result of Tiffany's price reduction in the country after the Chinese government cut prices on luxury goods, he said.

Bogliolo said that Tiffany was moving more material to the mainland of China, where customers are buying; spend more than overseas.

"When it comes to tourism, what we are doing is trying to continue our users while they spend it. We are & # 39 ; increasing our list in China because demand has grown, "Bogliolo said.

"Improving the cost of Chinese tourists is likely to be a major relationship to the US," said Ken Perkins, founder of a research company of Retail Metrics, a & # 39; talks about the U.S.-China trade dispute. "China's growth has been thus triggering to see strong mainland spending an incentive."

Tiffany estimated a year-on-year profit from $ 4.65 and $ 4.80 per department. Average analysis was $ 4.83 per department.

Amongst other things, there has been an unprecedented vision, Tiffany's planned increase in marketing spending to attract bidders to the stores and costs associated with the refurbishment of its main shop in New York, the company said.

The jeweler has been able to regenerate her collections with more accessible items such as earrings and earrings to appeal to young people who have been influencing low price competitors such as Pandora Danish A / S and Signet Jewelers.

Bogliolo said that its company has invested in marketing to target Chinese customers and tourists in particular.

"Indeed, if China's smaller tourists travel, we will take away our media from traveling areas – airports etc – more to domestic, mostly digital, "he said, announcing the launch of a paper flower and a diamond collection in China.

New York-based company revenue fell to $ 94.9 million, or 77 cents for its division, in the third fiscal quarter, ending until 31 October, from $ 100.2 million, or 80 cents each division, one year earlier.

Total revenue raised 3.7 per cent to $ 1.01 billion.

Average salary estimates of 77 cents for share on income of $ 1.05 billion.

The company's sales rose compared to the # 39; company, including the impact of cash changes, 3 per cent, length & analysts expected to increase by 5.3 per cent, according to IBES data from Refinitiv.

(Reuters)


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