Mon. Nov 18th, 2019

Tiffany holds its outlook after reporting decline in second-quarter profit

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Luxury retailer Tiffany & Co. held its fiscal-year outlook after reporting a decline in its second-quarter profit. Tiffany

TIF, -0.49%

said its profit in the quarter ending July 31 fell to $136.3 million, or $1.12 a share, from $144.7 million, or $1.17 a share, with sales weakening to $1.05 billion from $1.08 billion. Analysts polled by FactSet expected earnings of $1.04 a share on revenue of $1.06 billion. The company said it still expects earnings rising by a low-to-mid single-digit percentage and revenue up by a low single-digit percentage, with flat comparable-store sales after a 4% drop in comparable-store sales in the second quarter.

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