Content about Cuts

November 29, 2012

Tiffany & Co. reported that net income for the quarter ended Oct. 31 plummeted 30% to $63.2 million from $89.7 million, hurt by higher costs and tax rates as well as continued economic softness.

New York -- Tiffany & Co. reported Thursday that net income for the quarter ended Oct. 31 plummeted 30% to $63.2 million from $89.7 million, hurt by higher costs and tax rates as well as continued economic softness.

Revenue climbed 4% to $852.7 million, missing Wall Street’s expected $858.8 million in sales. By region, sales rose 6% in Europe and 3% in the Americas.

The retailer has cut its full-year earnings forecast.

 

August 27, 2012

Tiffany & Co.'s net income in the second quarter rose 2 % to $91.8 million, up from $90 million last year.

New York -- Tiffany & Co.'s net income in the second quarter rose 2 % to $91.8 million, up from $90 million last year. But the performance missed Wall Street's expectations and the jewelry company cut its full-year guidance, citing the tough global economy and weakness in key markets such as New York and Asia.