Pursuits
Tiffany Forecast Misses Estimates as Economy Spurs Caution
- Lower spending by international tourists weighs on U.S. sales
- Strong dollar is reducing value of revenue generated abroad
Morning Meeting: Tiffany Beats but Offers a Warning
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Tiffany & Co., the luxury jewelry retailer, gave a forecast for earnings this year that trailed analysts’ estimates as the sluggish global economy hurts sales.
At best, earnings in the current fiscal year will be unchanged from last year’s $3.83 a share, the New York-based company said in a statement Friday. Analysts estimated $3.86, on average.