Tiffany & Co reported lower-than-expected quarterly sales and a surprise drop in comparable sales, underscoring the jeweler's struggles with a strong dollar that has crimped tourist spending and weak demand at home.
It may only have been a 0.7% rise but an uplift in Japanese department store comparable sales during April was welcome nonetheless. It was the first increase in 14 months but came alongside a dip in clothing sales.
While some chains struggle in the Australian market, Inditex’s Zara is committed to the country and is seeing its operations growing but profit has fallen. The chain saw higher sales last year as it opened new stores.