Getting your player ready...
NEW YORK — This holiday season, women may be more likely to wind up with a partridge in a pear tree than five gold rings.
Jewelry demand has waned, even among the affluent who used to drop thousands of dollars in a shopping spree. “People that shop luxury … just don’t trade down,” says Marie Driscoll, equity analyst with Standard & Poor’s. While Tiffany & Co.’s second-quarter profit doubled on sales in Asia and Europe, the high-end retailer warned of softness in the U.S. in sales of items priced above $50,000. The Associated Press; AP file photo
