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Tiffany’s holiday sales disappoint; cuts full-year outlook


New York -- Tiffany's holiday sales dipped 1% and the luxury jewelry retailer cut its full-year profit outlook. CEO Michael Kowalski said that sales in the Americas fell slightly during November and December, while sales in Japan remained soft. Sales in the Asia-Pacific region and in Europe climbed.

Worldwide sales for the two months that ended Dec. 31 totaled $1.02 billion. Stripping out the impact of foreign currency exchange translation, worldwide sales rose 3%. Tiffany said it will plan for low-to-mid single-digit sales and earnings growth for the year.

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