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Luxury Holiday Sales Way Down This Christmas Season.
MasterCard's SpendingPulsereports that luxury retail sales in the U.S. dropped 34.5 percent this holiday season. Total retail sales, excluding automobiles, fell by 8 percent in December through Christmas Eve, compared to last year.
Excluding gasoline sales, the fall in retail sales was 2.5 percent in November and 4 percent in December.
Blue Nile revenues declined by 2.9 percent while Tiffany revenues dropped by with same-store sales declining by 14 percent.
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