Tiffany & Co , which has delayed the close of its US$16.2 billion sale to France's LVMH , reported a 29per cent drop in quarterly sales on Thursday as the COVID-19 pandemic hammered demand for luxury goods.
FILE PHOTO: A Tiffany & Co logo is seen outside the store on 5th Ave in New York, New York, U.S., March 19, 2019. REUTERS/Carlo Allegri/File PhotoREUTERS: Tiffany & Co , which has delayed the close of its US$16.2 billion sale to France's LVMH , reported a 29per cent drop in quarterly sales on Thursday as the COVID-19 pandemic hammered demand for luxury goods.
The U.S. jeweler, however, said sales trends were improving in August, mainly driven by improved demand in Mainland China and growing online sales.Worldwide sales fell to US$747.1 million in the second quarter ended July 31, from US$1.05 billion a year earlier.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Coty's quarterly sales slump 56per cent as virus-wary shoppers stay homeCoty Inc reported a 56per cent drop in quarterly sales on Thursday, as demand for its beauty products took a hit from closures of stores and ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Nordstrom quarterly sales plunge 53per centNordstrom Inc reported a 53per cent fall in quarterly sales on Tuesday, as its stores were temporarily shut for about half of the reported ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Toll Brothers profit falls about 22per cent as virus hits home pricesU.S. luxury homebuilder Toll Brothers Inc reported a 21.6per cent fall in third-quarter profit on Tuesday, as coronavirus-led lockdowns hurt home ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Nordstrom reports bigger-than-expected loss, sales fallNordstrom Inc reported a bigger-than-expected loss and a 53 per cent fall in sales on Tuesday (Aug 25), as its stores were shut for about half of ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Razer narrows H1 losses as pandemic lockdowns drive record salesHONG KONG-LISTED Razer, a gaming hardware, software and services company, posted a narrower loss of US$17.3 million for the first half of 2020, compared with a loss of US$48.1 million a year ago, with the global stay-home situation driving sales to record highs. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Second wave of COVID-19 could hit France in NovemberA second wave of the coronavirus pandemic could hit France in November, a government advisor told local media on Wednesday, as the city of ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »