Tiffany's Holiday Sales Rise, Japan Lags
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Tiffany & Co. Inc.  on Friday said its holiday sales jumped 12 percent from the prior year, putting the luxury jeweler on course to meet its near-term profit targets even after posting a lackluster performance in Japan.
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Richemont, the luxury goods maker, posted a 9 percent sales rise from April to June compared with the period last year despite a drag from a weak yen and United States dollar. Richemont, whose brands include Cartier watches, Montblanc pens and Piaget jewelry, has benefited from demand from China, Russia and the Middle East. Sales in the Asia-Pacific region rose 20 percent in Richemontâs first fiscal quarter of 2007, outshining European sales, which were up 13 percent, and American sales, which rose 3 percent. Japanese sales fell 3 percent. Richemont is based in Geneva.
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U.S. chain store retail sales rose in the latest week, due to a late pre-Christmas surge in spending, a report said on Tuesday.
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Luxury jeweler Tiffany & Co.  TIF.N  on Thursday posted lower-than-expected quarterly earnings and  slashed its profit forecast, hurt by lackluster sales in Japan  and higher costs for precious metals and diamonds.
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Japanese stocks rose by midsession on  Monday as growing confidence over the country's economic  outlook lifted retailers and real estate firms such as  Mitsubishi Estate Co. that rely more on domestic business.
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Tokyo's Nikkei average closed over one  percent higher on Tuesday after positive U.S. retail sales data  eased concerns about demand in Japan's main export market and  spurred buying of blue chips such as Sony Corp.
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U.S. specialty apparel retailers saw  sales rise 3.6 percent in holiday shopping, at the lower-end of  expectations, according to data released on Tuesday by  SpendingPulse.
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Japanese 10-year bonds fell after the US government said retail sales rose more than expected last month, damping concern demand for Japan&#39;s goods will slow.
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Retail sales during the important Thanksgiving weekend showed some strength, with sales measures released Monday reflecting year-over-year growth.
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Holiday sales are expected to rise,   though at a slower rate than last year as consumers fret about   the declining housing market, according to a National Retail   Federation economic forecast on Tuesday.
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U.S. chain store retail sales rose in  the latest week, as consumers picked up the pace of holiday  shopping, a retail report said on Tuesday.
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Online sales of holiday stalwarts like jewelry, watches and flowers have dropped from last yearâs levels, while sales of more practical items like furniture and appliances have climbed.
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Luxury jeweler Tiffany & Co.  on Thursday reported higher quarterly profit as strong sales in the United States and other markets that helped offset weakness in Japan.
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Japanese 10-year bonds fell after a US report showed retail sales rose more than economists expected last month, damping concern demand for Japan&#39;s goods will slow.
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Luxury jeweler Tiffany & Co.    on  Thursday posted an unexpected drop in quarterly earnings and  slashed its profit forecast, as weak silver jewelry sales in  Japan and higher diamonds and precious metals costs more than  offset improved U.S. sales.
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Luxury jeweler Tiffany & Co. Inc.   TIF.N on Thursday posted a weaker-than-expected quarterly   profit, due in part to renewed weakness in Japan, and gave a   disappointing outlook for the current period.
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U.S. retail sales jumped a  more-than-expected 1.2 percent in December, but first-time  jobless claims posted a surprise climb and import prices dipped  more than anticipated, government reports showed on Thursday.