Even as Tiffany's announced plummeting sales, the company is still planning to open a store at the Westfield Galleria in Roseville in August.
Tiffany's sales declined 22 percent in the first quarter and earnings dropped $40 million from the same quarter in 2008, the company announced recently.
"We planned for it, and it wasn't a surprise to us or the stockholders," said Mark Aaron, vice president of the company's investor relations.
Reducing inventory and advertising, offering early retirement plans to 600 employees and laying off 300 more helped the company confront the drop-off, he said.
A decline in luxury purchasing, particularly in the $50,000-plus category, hit the company hard, Aaron said.
Tiffany's also has decided to cut the number of store openings this year. It plans only three new stores nationwide, including the one in Roseville, compared to six in 2008.
"In this kind of environment, we're moderating the rate of store expansion," Aaron said.
Former Fuji Sushi owner resurfaces in Elk Grove
On weekends, regular diners at Fuji Sushi in downtown Davis knew to get there early and to bring a lawn chair and something to read.
To get in for the lunch buffet on Saturdays and Sundays, patrons began lining up as early as two hours before the restaurant opened.
Once the doors swung wide, sushi chefs worked at a furious pace as arms reached out for plates of sushi, sashimi and seafood. For less than the price of a CD, the all-you-can-eat deal was perfect for a town filled with hungry college students.
But Andy Lam and his family, who owned the restaurant, took a break a year ago and sold the restaurant he ran for 10 years.
"When you own something for so long, it's hard to give it up," he said. "The family put a lot of hard work and effort in it."
Now Lam and his crew and 30 employees are back in Elk Grove.
The new location, called Fuji Sushi Buffet, is closer to Lam's home and roomier, though the seating for 120 is about the same as the old Davis location.
Lam, 32, has been working in the restaurant business since he got out of high school. He created the sushi buffet idea to set his business apart from other Asian menus.
"We wanted to do something different," he said. "There's so many Chinese restaurants."
Lam has added more food at the new location including Chinese food at a price slightly lower than what he charged in Davis.
It's a loss-leader approach that he hopes will pay off with a new loyal following, he said.
"You can't get your money back in one or two years," he said.
The new spot is at 8473 Elk Grove Blvd. Lunch buffet is $9.95 on weekdays and a dollar more on weekends. Dinner buffet is $14.95 on weekdays and a dollar more on weekends.