Tiffany & Co, which is being bought by French luxury giant LVMH, reported a smaller-than-expected decline in quarterly revenue on Tuesday as the US jeweler benefited from strong sales in China and a recovery in demand at home.
The US luxury firm’s net sales fell about 1% to $1.01 billion in the third quarter ended Oct.31, beating expectations of $980.71 million, according to IBES data from Refinitiv.
Last month, Tiffany and LVMH ended a bitter legal battle and agreed to a new deal that would see the French firm buy out the US jeweler at a slightly lower price of $15.8 billion, or at a discount of $425 million.
