Tiffany on track for ‘longest losing streak’

Bloomberg

Tiffany & Co is poised to close in the red for the sixth consecutive session, the longest losing streak sense December 2016.
Shares are down 10 percent in the six-day period, trailing the S&P 500’s decline of 3.5 percent for the same period. Tiffany is due to report quarterly results June 4, and analysts are projecting revenue to fall about 2 percent year-over-year. This would be the largest decline since the second quarter of fiscal 2017, according to Bloomberg data.
Weak sentiment for the jewellery company famous for its robin egg blue (“Tiffany blue”) gift boxes shouldn’t come as a surprise. Earlier this month, a US Census Bureau report showed jewelry nominal retail sales fell 6.1 percent in March. This marked the industry’s slowest performance in more than two years.