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Tiffany Cuts Full-Year Earnings Outlook as Holiday Sales Decline

Tiffany & Co. cut its full-year profit forecast after reporting a drop in holiday sales.

Bloomberg

19 January 2016

NEW YORK, United States — Tiffany & Co. cut its full-year profit forecast after reporting a drop in holiday sales.

Net earnings in the year ending this month will decline about 10 percent, the New York-based jeweler said in a statement Tuesday, compared with its previous guidance for a drop of 5 percent to 10 percent.

The company also said it expects “minimal growth in net sales and net earnings” in 2016, citing the strength of the dollar and “global macro challenges.”

By Paul Jarvis.

In This Article

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Luxury

Organisations

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New York, United States

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