Tiffany Stock Falls on Earthquake Fears; Says Employees Okay

Tiffany and Co.’s stock fell March 14 and 15, in what
analysts called a response to the Japanese earthquake.

Tiffany has 55 stores in Japan, and the
country accounts for 19 percent of Tiffany’s annual sales, according to Standard &
Poor’s.

“All of our employees are accounted for and safe,” Tiffany director of investor relations Mark Aaron told JCK.  “That is the most important thing.”

He said some of its stores are either closed, or are operating on a limited schedule.

He said the company has one store located near the earthquake’s epicenter in Sendai, Japan, and that store was damaged.

The situation in Japan has also hurt the stocks of other
luxury companies, including Richemont and LVMH.

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