Tiffany & Co. Weak Silver Sales Force Profit Downgrade

Reuters reported that Tiffany & Co lowered its sales and profits forecast for the third straight quarter, partly blaming weak sales of inexpensive silver jewellery.

As quoted in the market report:

Global sales rose 3.8 percent to $852.7 million in the third quarter that ended October 31, while sales at stores open at least a year across the chain rose 1 percent. Analysts expected sales of $859.2 million, according to Thomson Reuters I/B/E/S.

To view the whole Reuters report, click here.