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Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
So what: A Morningstar analyst quoted by the wire service said that luxury sales to consumers in the Sino superpower may not be holding up as well as some had thought. Shares of Coach (NYSE: COH ) and Ralph Lauren (NYSE: RL ) also fell on the news.
Now what: But Tiffany may suffer more than most. Reuters says the jeweler saw Asia sales outside of Japan rise 45% in its latest quarter. Cutting off that spigot would mean crimping gains for a stock that, priced at more than 20 times earnings, needs growth to justify its valuation. Do you agree? Would you buy shares of Tiffany at these levels? Please weigh in using the comments box below.
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