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Tiffany & Co. is in big trouble without LVMH's $16 billion takeover — here's the biggest reason why
Tiffany & Co. (TIF) is about to embark back down the path of being a stand-alone public company following luxury goods giant LVMH yanking its $16 billion takeover offer.
And for Tiffany (and what’s left of their investor base), that road is likely to really suck for one primary reason — awful tourism trends globally at the hands of the COVID-19 pandemic. Unlike most in retail, Tiffany has long been over-reliant on global tourism flows to its castle-like stores in densely populated cities. The company’s iconic New York City flagship store on Fifth Avenue alone (which is being renovated and targeted for a late 2021 reopening) has accounted for 10% of worldwide sales in 2019, 2018, and 2017, according to Tiffany’s latest annual report.
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https://finance.yahoo.com/news/tiffany-c...21906.html
![[Bild: TIFc1dl1445.png]](https://finviz.com/publish/090920/TIFc1dl1445.png)
Tiffany & Co. (TIF) is about to embark back down the path of being a stand-alone public company following luxury goods giant LVMH yanking its $16 billion takeover offer.
And for Tiffany (and what’s left of their investor base), that road is likely to really suck for one primary reason — awful tourism trends globally at the hands of the COVID-19 pandemic. Unlike most in retail, Tiffany has long been over-reliant on global tourism flows to its castle-like stores in densely populated cities. The company’s iconic New York City flagship store on Fifth Avenue alone (which is being renovated and targeted for a late 2021 reopening) has accounted for 10% of worldwide sales in 2019, 2018, and 2017, according to Tiffany’s latest annual report.
...
https://finance.yahoo.com/news/tiffany-c...21906.html
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