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NEW YORK (TheStreet) -- Shares of Tiffany & Co. (TIF) - Get Tiffany & Co. Report were rising in pre-market trading on Thursday after the company posted better-than-anticipated earnings for the 2016 second quarter.

Before today's opening bell, the New York-based luxury jewelry retailer reported earnings of 84 cents per diluted share, topping analysts' estimates of 72 cents per share.

Revenue for the quarter was $931.6 million, below Wall Street's expectations of $934.7 million.

Comparable-store sales slumped 9% during the period, excluding currency fluctuations. Analysts were looking for a 7.1% decline, Bloomberg noted.

"The global environment continues to reflect well known challenges that we believe have had broad effects on spending by local customers, as well as foreign tourists, especially from China," CEO Frederic Cumenal said in a statement.

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Separately, TheStreet Ratings Team has a "Hold" rating with a score of C+ on the stock.

The primary factors that have impacted the rating are mixed. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures and expanding profit margins.

But the team also finds weaknesses including deteriorating net income, weak operating cash flow and disappointing return on equity.

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

You can view the full analysis from the report here: TIF

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