Jeweller Tiffany's sales improve after next door neighbour Donald Trump moved out

Sales at the firm’s Fifth Avenue store, immortalised in the 1961 classic film Breakfast At Tiffany’s, tumbled 7 per cent during the fourth quarter and 11 per cent for 2016 as a whole, due to the tight security cordon around Trump Tower next door.

It said that the combination of police, barriers, protesters and television crews outside had deterred customers.

However, since Trump moved out and into the White House in January, sales at high-end retailers in the area are said to have picked up.

Wall Street analysts expect Tiffany’s to say on Wednesday that its pre-tax profits for the three months to the end of April were up 4.3 per cent at $128.1million (£98.7million), compared to the same period last year.

First quarter revenues are tipped to be 2.5 per cent higher at £701.7million.

Although its sales in Asia and Japan have been growing, Tiffany’s has been struggling in both the US, its largest region, and Europe.

In February chairman Michael Kowalski was forced to assume the responsibilities of CEO Frederic Cumenal, who quit after just two years in the role.