- Tiffany (NYSE:TIF) announces plans to completely renovate its New York City flagship store in spring 2019.
- The investment in the Manhattan project is expected to increase Tiffany's capital expenditures as a percentage of worldwide net sales by 1-2% each year for the three fiscal years beginning February 1, 2019.
- The company has arranged to temporarily expand its retail space to the adjacent 6 East 57th Street during the construction.
- The Tiffany store has seen traffic disrupted due to the additional security measures and congestion at Trump Tower.
- Source: Press Release