Tiffany & Co. is a fraction of the size of LVMH, but the U.S. jeweler is doing a good job of outmaneuvering its powerful buyer. The New York-listed company said Tuesday that comparable sales for the three months through April fell by 43% compared with the same period of 2019, excluding currency movements. The business had a loss of $65 million during its first quarter, which was affected by the Covid-19 crisis from start to finish as lockdowns spread westward from Asia to its domestic market.

Source: Wall Street Journal June 09, 2020 13:52 UTC