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Tiffany misses on sales, shares slump 5% (TIF)

March 22, 2019

The luxury retailer Tiffany on Friday reported fourth-quarter sales that fell short of Wall Street estimates, sending shares down 4% ahead of the opening bell.

Tiffany said revenue totaled $1.32 billion, just missing the $1.33 billion that analysts surveyed by Bloomberg were hoping for as sales in Asia-Pacific slumped 1% amid strength in China and weakness elsewhere in the region. Elsewhere, sales in the US were unchanged in Q4 and slid 3% in Europe. Total comparable sales were flat, versus the up 0.1% that was expected.

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