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Tiffany's misses the mark

Do you remember from the mid nineties (that is now twenty years ago) the Deep Blue Something song, And I said, What about breakfast at Tiffany's? I actually went to the Tiffany's HQ, quite impressive really, the best part is that this shop is close to the NikeTown store, which is more awesome for me. However, back to Tiffany's, the "soft luxury" category took a hit yesterday after the company that sells jewellery and packages them in beautiful little iconic blue boxes guided forecasts lower for the full year. Holiday weakness, sales around 1 percent lower across the board for the last two months of last year, when compared to the comparable period in 2013. Sigh, the WSJ cites lower banker bonuses and says that the flagship Manhattan store on several levels accounts for 8 percent of global sales. That is around 320 million Dollars from that one store, quite astonishing really, less than a million bucks a day sounds less impressive. The upshot of it all for us here was a declining sector globally, Richemont after being up for the day went lower, it did end higher in Switzerland. Their (Richemont) sales update is the 15th of January, they themselves have had a lot to contend with, including a weaker Euro and the Hong Kong protests!


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