Tiffany sales plunge as tourists rein in spending - Aug. 25, 2016

Sales at Tiffany have plunged, and the luxury jeweler is blaming tourists' drop in spending.



Tiffany & Co. reported that sales at its stores open at least a year tumbled 8% in the second quarter. Sales at its American stores were down slightly more, and it pointed to lower spending by Chinese and other foreign tourists as a key reason for the decline.



Tiffany sales plunge as tourists rein in spending - Aug. 25, 2016