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Tiffany & Co has a tourist problem: CEO



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"Tourism is an important part of the business," Bogliolo said. "It's not the biggest part, but we have to face it."

The problem has not been highlighted by the products, because he has been pleased with the performance of his new albums, such as his Tiffany True rings. Currency fluctuations were another factor.

Earlier Wednesday, Tiffany had sales forecasts more than sales, except for Asian-Pacific regions. The New York-based company said the growth of US passengers, U.S., Hong Kong and Korea has led to lower cost of Chinese passengers. Executives said in a conference call that some analysts clearly see China's buyers "reducing the" outside of the mainland "because of their efforts to boost local consumption. Home spending rose in Tiffany products in the last quarter.

Although sales may be made elsewhere, Bogliol creates a chance in China.

"China's passenger sales have slowed, the figure has doubled to make China's western double figure stronger," said Bogliolo. "This has told me that Tiffany is important for Chinese consumers."

Tiffany & Co.'s shares lasted most four years.

Tiffany & Co.'s shares lasted most four years.Credit:AP

Neil Saunders, Director of GlobalData Retail, has said that Tiffany's move to reposition the brand and attract younger buyers.

"A few years ago, this group was Tiffany apathy, largely obsolete and irrelevant to their needs and tastes," said Saunders. "In a relatively short season, Tiffany has begun to change perception and show off something younger consumers."

Bogliol said the company has a lot of weight to make changes because it does not want to eliminate existing Tiffany customers. Sales of new and older customers have boosted growth and this year's growth has increased.

However, Wall Street's focus is on Chinese tourists. Brian Tunick, an analyst at the RBC Capital Markets, said he was "somewhat disappointed", although "not surprised" by the slowdown in sales in the third quarter. The shareholder expects it to be predicted until it improves Chinese spending.

Bloomberg


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