With Europeans and Asians buying fewer $65,000 diamond necklaces and $10,000 amethyst earrings, Tiffany & Co. (TIF) may be in for a less-than-glittering 2012.
No U.S. luxury merchant is more exposed internationally. The world’s second largest jeweler generates almost half its sales outside of the Americas, up from 38 percent in 2006, according to data compiled by Bloomberg. Tiffany’s foreign sales are concentrated in Europe, which is facing a sovereign debt crisis, and Asia, where China’s growth is slowing. Bloomberg