December 26, 2019 / 11:57 AM / a month ago

Tiffany sees holiday sales growth of up to 3%

Dec 26 (Reuters) - Tiffany & Co estimates sales during the holiday shopping season rose between 1% and 3%, with the biggest contribution coming from China, the luxury jeweler said on Thursday.

“We continued to see the Chinese Mainland drive our overall sales growth with a strong double-digit increase, offset by the persisting declines in the Hong Kong market and, to a lesser degree, Japan,” Chief Executive Officer Alessandro Bogliolo said.

Net sales in China, for the interim holiday period from Nov. 1 to Christmas Eve, rose about 5%-7%, the company said.

Reporting by Nivedita Balu in Bengaluru; Editing by Vinay Dwivedi

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