Luxury goods and jewelry retailer Tiffany has received an increase of 9 percent in sales in the second quarter of the year, according to a Friday report. Similarly, Neiman Marcus luxury departmental store also reported a 7.6 per cent jump in revenue.
Zales, a mass-market jewelry store on the other hand is having a not so great year. Walmart reported that second-quarter 2010 sales declining.
Bill Simon, chief executive of Walmart, US said that customers continue to spend conservatively even after a year of economic recovery. While there is signs of strong growth at high end stores, mass-markets are still facing the hurdles.