Tiffany drops as sales miss signals more tourist spending woes

TIFFANY & CO. reported that same-store sales declined 3% year over year. / BLOOMBERG NEWS FILE PHOTO/KONRAD FIEDLER
TIFFANY & CO. reported that same-store sales declined 3% year over year in the second quarter. / BLOOMBERG NEWS FILE PHOTO/KONRAD FIEDLER
NEW YORK – Tiffany & Co. posted quarterly sales that missed projections as concerns about foreign tourist spending persisted. The shares fell as much as 3.7% in early trading. Same-store sales, a key retail metric, fell 3% globally year over year, excluding currency swings, Tiffany said Wednesday. Analysts had estimated a 1.5% drop, according to…

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