World News

Tiffany to temporarily close several stores, cuts hours at others

(Reuters) – Luxury jeweler Tiffany & Co <TIF.N> said on Tuesday it would temporarily close several stores, including its Fifth Avenue flagship store in New York, and reduce working hours at other outlets, in an effort to contain the spread of coronavirus.

Earlier in the day, L Brands Inc <LB.N>, Ralph Lauren <RL.N> and American Eagle Outfitters <AEO.N> announced temporary store closure, joining a spate of retailers, including Nike Inc <NKE.N>, which have made similar announcements in recent days.

Tiffany, which is being bought by Louis Vuitton owner LVMH <LVMH.PA>, will be reporting quarterly earnings report on Friday.

(Reporting by Praveen Paramasivam in Bengaluru and Melissa Fares in New York; Editing by Shinjini Ganguli)