Tiffany & Co.’s New York flagship drove up the company’s sales in the Americas as a new mix of tourists showed up to spend.
During the fourth quarter — when earnings were reduced by the firm’s $473 million arbitration award to The Swatch Group Ltd. and even adjusted earnings fell short of analysts’ estimates — the company registered a 7 percent increase in comparable-store sales in the Americas and “sales growth in the New York flagship store [that outpaced] modest growth in brand stores,” said Mark Aaron, vice president of investor relations.
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