Retailers, consumers and prices
Eclipsing a 4-percent drop in same-store sales in its other stores, the New York store posted a 16-percent rise.
Thanks to those tourists, U.S. same-store sales in the quarter for Tiffany didn’t slip into the red.
The jeweler, best known for its classic designs and the robin-blue box, is now thinking that its U.S. sales will start to look up later than expected, and is, instead, looking to markets like Europe and the Asia-Pacific region, other than Japan, for good fortunes.
According to interviews Reuters conducted with consumers across the United States over the past week, the answer seems to be that most of the extra money will be heading toward the basics — like food, fuel and credit card payments — with just a little left over for splurges.
American small business owners are a resolute lot, pushing ahead with plans to grow their operations despite losing a large chunk of sales to soaring energy costs, an American Express OPEN survey showed on Friday.
Ironically, most are also day-dreamers who look on the bright side , the survey added.