Tiffany & Co. on Wednesday reported quarterly earnings that topped analysts' expectations but sales that missed, also maintaining its previously lowered outlook for the full year.
Pedestrians pass in front of the Tiffany & Co. flagship store on Fifth Avenue in New York, U.S., on Saturday, Nov. 26, 2016.on Wednesday reported quarterly earnings that topped analysts' expectations but sales that missed, also maintaining its previously lowered outlook for the full year.Here's how Tiffany did for its fiscal second quarter compared with what analysts were expecting, based on Refinitiv data:Global same-store sales: down 4% vs. a drop of 1.
"With the tough comparison to last year's strong performance in the first half behind us, and in spite of the headwinds of weak demand from foreign tourists, currency exchange rate pressures and continuing business disruptions in Hong Kong, we are actively managing what is in our control and positioning our brand to win," CEO Alessandro Bogliolo said in prepared remarks.
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