Tiffany & Company is a luxury jeweler and specialty retailer that sells timepieces, sterling sil- verware, china, crystal, fragrances, and accessories through its retail stores worldwide. Signet Jewelers Ltd. operates a number of well-known retail stores (Belden Jewelers and Kay Jewelers, among them) that sell moderately priced jewelry and other items. Selected financial informa- tion about each company for the year ended January 31, 2018, follows: ($ in millions) Tiffany & Co. Signet Jewelers Sales $4,169.8 $6,253.0 Net income $370.1 $519.3 Return on assets (ROA) 7.6% 9.0% Profit margin 9.6% 8.9% Asset turnover 0.79 1.01 Source: Computed from amounts in the Tiffany & Company and Signet Jewelers Form 10-Ks for the years ended January 31, 2018, and February 3, 2018, respectively. Required: 1. The profit margin at Tiffany & Co. is higher than that at Signet Jewelers. What is it about each company's strategy and positioning that might explain the profit margin difference? You may want to visit each company's website before answering this question. 2. The asset turnover at Signet Jewelers is higher than that at Tiffany & Company. What is it about each company's strategy and positioning that might explain the asset turnover difference