Snowy weather in the U.K...

Luxury jeweler Theo Fennell warned investors that due to several weeks of snowy weather in the U.K. before Christmas, the company's sales and profits would miss expectations come March.

Theo FennellThe jeweler was not alone either as numerous companies in the region have issued profit warnings for the same reason.

Same-store sales at Theo Fennell in December fell 7 percent, which was a remarkable drop considering that the first week of the month experienced a 22 percent increase in sales. But the weather deteriorated from that point on stranding travelers and residents alike.

Nonetheless, Theo Fennell reported that its "Bee" collection sold well, and the Alias line was showing promise. Higher priced items were weak and this was blamed on the lack of tourists to London due to the heavy snow storms.

By: Jeff Miller of RAPAPORT

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