Luxury jeweler Tiffany & Co (NYSE:TIF) reported a 5 percent fall in quarterly sales as a strong dollar discouraged tourists from spending in its U.S. stores and reduced the value of overseas sales.
Continue Reading Below
The company's net income fell to $104.9 million, or 81 cents per share, in the first quarter ended April 30 from $125.6 million, or 97 cents per share, a year earlier.
Revenue fell to $962.4 million from $1.01 billion, while total same-store sales fell 7 percent.
(Reporting by Yashaswini Swamynathan and Ramkumar Iyer in Bengaluru; Editing by Ted Kerr)