Tiffany & Co.'s Dependence on Chinese Tourists Is a Bright-Red Flag [The Motley Fool]
TIFFANY (TIF)
Last tiffany earnings: 3/20 06:40 am
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Source: The Motley Fool
Tiffany & Co.'s Dependence on Chinese Tourists Is a Bright-Red Flag Tiffany & Co. ( NYSE:TIF Tiffany faces a similar predicament now. Its first-quarter results showed that revenue fell % annually to $ billion, marking its second straight quarter of negative growth, and its net income fell % to $ million. Tiffany attributed those declines to two main headwinds -- a strong dollar throttling its overseas sales and soft tourist spending across its main markets. Image source: Getty Images. Tiffany can't do much about currency headwinds, but its heavy dependence on tourists is a bright-red flag. Let's see how softer tourist spending curbed Tiffany's growth over the past year. How Tiffany lost its tourist shoppers Tiffany's reported sales declined year over year across all four of its regions during the first quarter: YOY sales growth Q 08 Q 08 Q 08 Q 08 Q 09 Americas 9% 8% % 0% (%) Asia-Pacific 8% (%) Japan 7% % Europe % (%) Data source: Tiffany quarterly reports. YOY = year-over-year. The
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