Tiffany & Co tempered its yearly profit forecast on Friday after its holiday sales fell unexpectedly as Chinese tourists spent less globally and the U.S. luxury jeweler faced softer demand in Europe and at home.
The philanthropic arm of the National Retail Federation has announced that Macy’s Inc. chairman and chief executive officer Jeff Gennette has been elected chairman of the foundation's board of directors.
The Wisconsin-based department store operator reported an increase of 1.2% in comps for the 2018 holiday period, a significant deceleration when compared to the growth of 6.9% seen in the prior-year period.
Sales in the 2018 U.S. holiday shopping season rose 5.1 percent to over $850 billion, the strongest in six years, according to a Mastercard report on Wednesday, as shoppers were encouraged by a robust economy.
Since De Beers abandoned its decades-old policy of refusing to sell lab-grown diamonds as jewellery, the price gap between man-made stones and natural gems has widened - and the difference is set to get even bigger.