Tiffany & Co. (New York) reported rising sales numbers in Asia in their fourth-quarter earnings, but reported a dip in America.
The jewelry retailer’s sales in China and Korea rose by 9 percent and in Japan, by 15 percent, reports CNBC. Meanwhile its sales in the Americas dropped 3 percent last quarter.
"Although Tiffany is a luxury [brand] ... we've not been pleased with our financial performance," said interim CEO Michael Kowalski. "While we were able to realize important improvements in gross margins and generate a healthy level of free cash flow, [U.S.] sales results were disappointing."