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Tiffany & Co. cuts 1Q outlook on Japan concerns

Tiffany & Co. cuts 1Q outlook on Japan concerns

Tiffany & Co. is lowering its first-quarter earnings guidance, citing store closings and limited hours in Japan resulting from the earthquake and tsunami.
But strong holiday demand and new products helped its fourth-quarter net income rise 29 percent.
The jewelry maker known for its turquoise box now expects first-quarter earnings of about 57 cents per share. That's down from a previous forecast 62 cents per share.
Analysts predicted 55 cents per share.
Fourth-quarter net income increased to $181.2 million, or $1.41 per share, for the period ended Jan. 31. That compares with $140.4 million, or $1.09 per share, a year ago.
Analysts expected net income of $1.39 per share.
Revenue improved to $1.1 billion from $981.4 million, matching expectations.


Updated : 2021-07-30 19:56 GMT+08:00