NEW YORK | China’s growth slows, as does tourist spending at Tiffany
NEW YORK — There was something missing at the luxury jeweler Tiffany & Co. in recent months: Chinese tourists.
While the company said Wednesday that third-quarter revenue rose 4 percent to just above $1 billion, industry analysts were anticipating a bigger boost. Some the unanticipated drag has occurred as tourists, particularly Chinese tourists, pull back on spending in places like New York and Hong Kong.
CEO Alessandro Bogliolo on Wednesday did note the decline in activity among Chinese tourists, which has become significant.