Tiffany expects global sales gains but sees Japan dip

NEW YORK (Reuters) - Tiffany & Co <TIF.N> reported a larger quarterly profit on Monday as the upscale jeweler's sales worldwide rose 12 percent over the holiday quarter.

Tiffany estimated worldwide sales would rise 12 percent to 14 percent this year but warned that the disasters affecting Japan would lead to a sales decline of 15 percent there in the current first quarter.

Tiffany's net income from continuing operations rose 31.1 percent to $181.2 million, or $1.41 per share, in the holiday quarter that ended on January 31, from $138.2 million, or $1.09 cents per share, a year earlier.

(Reporting by Phil Wahba, editing by Maureen Bavdek)