Retail in Asia

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Tiffany sees Asia, new silver jewellery fueling sales this year

Tiffany & Co said the pace of its worldwide sales growth would pick up this year, helped by faster growth in Asia and a more compelling selection of lower-price silver jewellery.

The forecast of 6 percent to 8 percent sales growth points to a return to the more robust gains Wall Street has come to expect from Tiffany, which also reported a higher-than-expected quarterly profit on Friday. Sales suffered last year from weak demand for its silver items and a slowdown in China.

Tiffany, famed for its blue boxes, said it expected sales in Asia, excluding Japan, to rise at a mid-teens percentage rate this year, compared with an 8 percent increase last year.
 

(Source: CNBC)