Upscale jeweler Tiffany & Co reported a sharp decline in holiday season sales and cut jobs as it struggles with weak spending by tourists in its showpiece U.S. stores.<br />The company's traditional reluctance to offer promotions has been turning away thrifty customers, while a stronger dollar has made purchases more expensive for tourists.<br />Slowing economic growth in China could pose another headache this year for the company, which gets about 24 percent of its sales from the Asia-Pacific region.<br />Tiffany's shares, which have lost nearly a third of their value in the past six months, touched a near three-year low of $62.90 in morning trading on Tuesday.
