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Tiffany loses some luster on forecast

Tiffany said fourth-quarter earnings may rise to as much as $1.58 a share. Analysts had projected a $1.63 average. Tiffany said fourth-quarter earnings may rise to as much as $1.58 a share. Analysts had projected a $1.63 average. (Ramin Talaie/Bloomberg News/File 2010)
November 30, 2011
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Tiffany & Co. fell the most in almost four years after the luxury jewelry retailer forecast slower sales growth in the fourth quarter. Tiffany cited weakness in the Eastern United States and Europe, where the region’s sovereign debt crisis is hindering investors’ confidence. The company also said a key measure of profitability shrank as it sold more of its highest-priced diamond jewelry, which yields a lower gross margin.

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