FILE PHOTO: A Tiffany & Co. logo is seen outside a store in Paris, France, November 22, 2019. REUTERS/Gonzalo Fuentes/File Photo
(Reuters) – Tiffany & Co (TIF.N) estimates sales during the holiday shopping season rose between 1% and 3%, with the biggest contribution coming from China, the luxury jeweler said on Thursday.
“We continued to see the Chinese Mainland drive our overall sales growth with a strong double-digit increase, offset by the persisting declines in the Hong Kong market and, to a lesser degree, Japan,” Chief Executive Officer Alessandro Bogliolo said.
Net sales in China, for the interim holiday period from Nov. 1 to Christmas Eve, rose about 5%-7%, the company said.
Reporting by Nivedita Balu in Bengaluru; Editing by Vinay Dwivedi