Tiffany & Co. (NYSE: TIF) reported Q2 EPS of $0.86, $0.05 worse than the analyst estimate of $0.91. Revenue for the quarter came in at $991 billion versus the consensus estimate of $1.01 billion.

Comps increased 7 percent, versus estimates of 3.5 percent.

For the year ending January 31, 2016, Management now expects net earnings to be 2%-5% below last year’s $4.20 per diluted share (excluding the loan impairment charge in the second quarter of 2015 and a debt extinguishment charge in 2014). This forecast assumes no growth in net earnings in the third quarter (excluding the debt extinguishment charge referenced above in the prior year’s quarter) and a resumption of growth in the fourth quarter. Also for the full year, this forecast does not assume recording any further similar loan impairment charges; this forecast does continue to assume inventories increasing at a rate below sales growth; capital expenditures of $260 million; and free cash flow in excess of $400 million. All assumptions are approximate and may or may not prove valid.

For earnings history and earnings-related data on Tiffany & Co. (TIF) click here.