Tiffany (TIF) reports earnings today, giving Wall Street a read on the appetite for luxury goods. Analysts are generally upbeat about Tiffany's results. Shares are down 10% since its last earnings report and down 22% this year. The jeweler has also seen a shakeup in its executive suite, with a new CEO. However, there is concern about tourists pulling back spending particular from China, which has seen its stock market fall 40% since June. Many of Tiffany's customers hold their wealth in stocks and are sensitive to big swings in the stock market. Tiffany's has also been hit by the strengthening U.S. dollar. Analysts expect quarterly sales to total $1 billion, according to Factset, which is down from a year ago. However, same store sales are expected to rise 3.6%.
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