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Bogliolo said Tiffany was shifting more inventory to mainland China, where customers are spending more than abroad. “When it comes to tourism, what we do is try to follow the customers while they spend. .. We are increasing our inventory in China because demand there has grown,” Bogliolo said custom photo cufflinks uk sale. “Declining Chinese tourist spending is concerning and may be reflective of strained relations with the U.S.,” said research firm Retail Metrics founder Ken Perkins, referring to the U.S.-China trade dispute. “China’s growth has been slowing so to see strong spending on the mainland is encouraging.”..
Tiffany forecast full-year profit between $4.65 and $4.80 per share. Analysts on average had estimated $4.83 per share custom photo cufflinks uk sale. The unchanged outlook, among other things, reflected Tiffany’s planned increases in marketing expenditure to entice younger shoppers into its stores and expenses related to the renovation of its flagship store in New York, the company said. The jeweler has refreshed its collections with more affordable items such as pendants and earrings to appeal to millennials who have been gravitating to lower-priced competitors such as Denmark’s Pandora A/S (PNDORA.CO) and Signet Jewelers (SIG.N)..
Bogliolo said the company has also invested in marketing to reach Chinese customers and tourists specifically. “Of course if there are less Chinese tourists traveling, we divert our media from traveling locations – airports etc – more to domestic media, typically digital,” he said, citing the recent launch of its platinum and diamond collection Paper Flowers in China custom photo cufflinks uk sale. The New York-based company’s net income fell to $94.9 million, or 77 cents per share, in its fiscal third quarter, ended Oct. 31, from $100.2 million, or 80 cents per share, a year earlier..
NEW YORK (Reuters) – U.S. Federal Reserve Chair Jerome Powell injected investors with a strong dose of optimism on Wednesday, saying that the central bank’s policy rate is now “just below” estimates of a level that neither brakes nor boosts a healthy U.S. economy, comments that many investors read as signaling the Fed’s three-year tightening cycle is drawing to a close. Stocks and interest-rate futures jumped, even while economists wrestled to interpret whether Powell intended to send a message or was simply misunderstood custom photo cufflinks uk sale.
On their face, the comments were a reversal from early last month, when Powell said the key interest rate was probably still a “long way” from a so-called neutral level and that the Fed might even tighten policy beyond that level. Stocks swooned on those remarks as investors bet the U.S. central bank would need more rate hikes to prevent the economy from overheating. The possibly dovish shift in language on Wednesday came as President Donald Trump stepped up attacks on Powell, criticizing the Fed’s rate hikes as undercutting his economic and trade policies custom photo cufflinks uk sale. Trump told the Washington Post just on Tuesday that he is “not even a little bit happy” with the Fed chief..