Tiffany & Co. reported that profit for the first quarter was essentially flat at $81.5 million, compared with $81.1 million in the year-ago quarter, prompting the jeweler to reduce its forecast for both sales and profit for the year.
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Tiffany & Co. said Thursday its first-quarter profit rose 25% on higher revenue across all regions worldwide. The results beat expectations and the company raised its forecast for the year above current Wall Street estimates.