NEW YORK | Suddenly, luxury stores miss free-spending Chinese tourists

28Nov - by Editor - 0 - In STL.News



NEW YORK  — There was something missing at the luxury jeweler Tiffany & Co. in recent months: Chinese tourists.
For the second time in as many months, a big seller of high-end goods noticed that a particularly crucial demographic of its shopping base had made itself sparse, damaging sales and stoking fears of worse to come.

On Wednesday, shares of Tiffany & Co. plunged 12 percent after reporting weaker-than-expected sales in its third quarter.

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