Tiffany sees holiday sales growth of up to 3%

(Reuters) – Tiffany & Co (N:) estimates sales during the holiday shopping season rose between 1% and 3%, with the biggest contribution coming from China, the luxury jeweler said on Thursday.

“We continued to see the Chinese Mainland drive our overall sales growth with a strong double-digit increase, offset by the persisting declines in the Hong Kong market and, to a lesser degree, Japan,” Chief Executive Officer Alessandro Bogliolo said.

Net sales in China, for the interim holiday period from Nov. 1 to Christmas Eve, rose about 5%-7%, the company said.

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