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Lower spending by Chinese tourists put a dent in the jeweler’s third quarter results.
Same-store sales rose 4 percent but losses increased for the retailer, which is sinking money into a five-year turnaround plan.
U.S. sales were down 12 percent, with strong sales online not enough to offset the company’s in-store performance.
The French luxury conglomerate owns Boucheron, Pomellato and Ulysse Nardin, among others.
The retailer struggled in its attempt to rely less on discounting.
Bulgari continues to bolster the company and gain market share.
The news came amid its five-month fiscal results, in which sales were up 25 percent led by its jewelry division.
It is set to open before the holiday season and will be more high-tech than the jeweler’s other stores.
National Jeweler

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