Tiffany’s holiday-quarter sales miss expectations

Earnings

Tiffany on Friday reported a 1 percent drop in sales during the holiday quarter, citing “external challenges and uncertainties.”

The luxury jewelry retailer said net sales fell to $1.321 billion, while analysts had been expecting sales of $1.332 billion, according to a Refinitiv survey.

Tiffany reported net earnings for the quarter ended January 31 of $204.5 million, or $1.67 a share, compared with $61.9 million, or 50 cents per share, a year ago. That was slightly ahead of analysts’ expectations for earnings per share of $1.60.

Tiffany shares weren’t moving in premarket trading following the release. The stock has rallied more than 24 percent so far this year.

This is a developing story. Please check back for updates.

Products You May Like

Articles You May Like

Ray Dalio: Career, Economic Risks and Advice To Graduates (2019)

Leave a Reply

Your email address will not be published. Required fields are marked *