(CNN/Gray News) – Things aren’t all rosy at Tiffany.
The high-end jeweler cut it’s profit forecast on Tuesday, blaming a slump in sales on a stronger dollar and "dramatically lower worldwide spending attributed to foreign tourists," according to CEO Alessandro Bogliolo.
Bottom line: Demand is weakening for the signature little blue box.
Not only are sales down at the company’s flagship store on Fifth Avenue in New York, but Tiffany said demand for its products is weak throughout the United States, Japan and stores in the Asia-Pacific region.
One bright spot is China. Despite the ongoing trade war with the U.S., Tiffany is still reporting “strong growth” in the country’s affluent consumers.