Tiffany’s profit triples, beating analysts’ expectations, despite sales slowdown
Tiffany & Co. reported higher profits in the fourth-quarter, beating analysts’ expectations, though sales slowed due to softer demand from local customers and lower Chinese tourism.
Profit roughly tripled to $204.5 million, or $1.67 a share, compared with $61.9 million, or 50 cents a share, a year ago. Analysts polled by Refintiv had expected a profit of $1.60 a share.
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