Not necessarily fully related to the Trumps gifting the Obamas with their signature blue box, Tiffany & Co. has run into some fiscal trouble as of late.
With holiday numbers down 4% domestically, CEO Frederic Cumenal tendered his resignation over the weekend, as Lady Gaga did her best to convince her Monsters to buy into the Tiffany dream.
Unmoved by Gaga’s plea, Mizuho Securities decided this week to lower Tiffany & Co.’s outlook to neutral.
Who is to blame? Well, the same person that is to blame for everything else the media sees as wrong with the world: Trump.
No, not due to the aforementioned Tiffany picture frame, but the traffic, protestor and police presence in front of their New York Fifth Avenue store caused by Donald Trump election win—and it’s not just media insiders trying to make that claim.
According to Tiffany & Co.’s January statement, “Management attributed the lower sales to local customer spending, with a decline in US sales exacerbated by a 14% decline at the company’s flagship store on Fifth Avenue in New York, which we attribute at least partly to post-election traffic disruptions.”