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.
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