Tiffany & Co. (TIF) Reports Q1 EPS of $0.74; Updates FY16 Outlook

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Go back to Tiffany & Co. (TIF) Reports Q1 EPS of $0.74; Updates FY16 Outlook

Tiffany Reports First Quarter Results

May 25, 2016 6:40 AM EDT

NEW YORK--(BUSINESS WIRE)-- Tiffany & Co. (NYSE: TIF) reported its financial results for the three months (first quarter) ended April 30, 2016. Worldwide net sales were lower than the prior year and reflected declines in all regions except Japan, which management attributes to a continuation of softness in spending by both local customers and foreign tourists. Net earnings were also lower than the prior year resulting from a decline in the operating margin, as improved gross margin was more than offset by a lack of sales leverage on operating expenses. However, net earnings were generally in... More