The Traderszone Network

Published in TZ Latest News 27 May, 2015 by The TZ Newswire Staff

Tiffany’s sales, profit beat on higher tourist spending in Europe

Sales in Europe rose 2 percent in the first quarter ended April 30, Tiffany said, attributing the increase to more tourists shopping at its stores as well as strong local demand. The weaker euro and the pound have made it attractive for foreign tourists to shop in Europe, Mark Aaron, vice president of investor relations said on a conference call. Between a quarter and a third of Tiffany’s sales in Europe are made to foreign tourists, Aaron told Reuters.