NEW YORK (AP) — Tiffany & Co.'s net income rose 2 percent in the second quarter as revenue improved, but the performance missed Wall Street's view and the jewelry company cut its full-year earnings guidance.
Its shares slipped less than 1 percent to $58.02 on premarket trading.
Tiffany, known for its blue boxes, earned $91.8 million, or 72 cents per share, for the period ended July 31. That compares with $90 million, or 69 cents per share, a year earlier.
Analysts expected earnings of 74 cents per share.
Revenue for the New York company rose 2 percent to $886.6 million from $872.7 million. Wall Street forecast $891.1 million.
Tiffany said Monday that it now expects 2012 earnings of $3.55 to $3.70 per share, down from $3.70 to $3.80 per share. Analysts predict $3.65 per share.