U.S. luxury jeweler Tiffany & Co , which is being bought by France's LVMH for US$16 billion, said on Tuesday it had amended some of its debt ...
U.S. luxury jeweler Tiffany & Co , which is being bought by France's LVMH for US$16 billion, said on Tuesday it had amended some of its debt agreements to gain more financial leeway amid the coronavirus pandemic after its quarterly sales sank 44per cent.
However, Arnault has decided not to renegotiate the agreed price for now, sources told Reuters on Friday. The company's comparable sales, which strip out the effects of currency exchange rates, tumbled in the three months to April 30, as the pandemic gutted demand for its jewelry and forced it to shut the bulk of its 300 stores across the globe.
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