Tiffany’s Earnings Gain Shows Demand Boost From China, Online


Source: bnnbloomberg.ca bnnbloomberg.ca

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(Bloomberg) -- Tiffany & Co. had strong earnings growth in one of its last reports before being taken over by LVMH, helped by a resurgence of demand in China and e-commerce. Adjusted earnings per share in the third quarter rose to $1.11. Analysts expected 63 cents. Key Insights Comparable sales in China almost doubled, which harks back to the boom days of that market. China has been a lifeline for luxury brands with consumers keen to get their hands on luxury goods they aren’t able to buy abroad because of the virus. After backing out of a deal to acquire...