Why Tiffany Shares Fell More Than 5% Today [The Motley Fool]
TIFFANY (TIF)
Last tiffany earnings: 3/20 06:40 am
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Source: The Motley Fool
The luxury retailer will spend something like $15 million over three years to remodel its Manhattan-based flagship store. Anders Bylund ( TMFZahrim ) Aug 15, 2018 at 3:18PM What happened Shares of iconic jewelry store operator Tiffany & Co. ( NYSE:TIF ) are not having a very glamorous Wednesday today. Share prices fell as much as 5.6% before recovering to a 5.2% drop as of 2:40 p.m. EDT. Investors are worried about the company's plans to renovate its flagship store on 5th Avenue on Manhattan. So what The 10-story building, opened in 1940, is due for a drastic makeover. Tiffany aims to complete the renovations in the fourth quarter of 2021, increasing the company's capital expenses by as much as 2% a year over the next three years. Those expenses should add up to nearly $15 million. Tiffany CEO Alessandro Bogliolo is looking forward to creatin
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