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Jan 6, 2012

Tiffany's Is The No. 1 US Luxury Retailer Likely To Get Slammed In 2012

Tiffany's, Wall Street
Richard Drew / AP

Tiffany's may be looking at a rough 2012.

Nearly half its sales are foreign, and the majority of those are from Europe, which is dealing with a sovereign debt crisis, and Asia, where growth is slowing in China, reports Bloomberg. In fact, "no U.S. luxury merchant is more exposed internationally."

Its revenues rose slightly in 2011 from $3 to $3.7 billion, and its third quarter earnings beat forecasts, but things are looking bleaker for the coming year.

 
European luxury sales will grow 5 percent in 2012 after two years of growth over 10 percent, according to a December report from CA Chevreux in Paris.

It's been expanding in the Asia-Pacific region, but maybe too much so, since its boutique stores weren't all that popular in China, where people prefer to shop in larger venues.

Domestically, Tiffany's brought in 24% higher sales at its Fifth Avenue flagship store in Manhattan.




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