"Tourism is an important part of the business," Bogliolo said. "This is what we have to deal with."
He is gratified by the fact that his Tiffany True rings. He said currency fluctuations were another factor.
Earlier Wednesday, Tiffany reported Asia Pacific. It has been the Hong Kong and Korea. It is a clear idea that the Chinese government has been trying to reduce energy costs. Domestic spending on Tiffany products rose last quarter.
"It was slowed down by the Chinese market," said Bogliolo. "This is telling me Tiffany is relevant to Chinese consumers."
He said that he was not paying the price.
"A few years ago, this group was largely apathetic to Tiffany," "Tiffany has a little space for you to enjoy.
It’s Tifany’s existing customers. There has been an increase in sales.
Even so, Wall Street's focus is on Chinese tourists. Brian Tunick, an analyst with RBC Capital Markets, said he was "somewhat disappointed" although he was not completely surprised. He predicted shares will underperform until Chinese spending.