CEO Frederic Cumenal will be temporarily replaced by board chairman and former CEO Michael Kowalski as the company looks for a successor. The store sits next to Trump Tower, the longtime residence for President Trump and his family. Security at Trump Tower has been beefed up since the election. The disruption at the Fifth Avenue location is a problem for Tiffany, since the flagship store accounts for about 10% of its overall sales. In the holiday period, the company's overall sales were up only slightly from 2015.

Source: CNN February 05, 2017 22:52 UTC