NEW YORK (TheStreet) -- Shares of Tiffany (TIF) - Get Report are down by 3.47% to $73.89 in pre-market trading on Tuesday morning, after the luxury jewelry retailer reported earnings and revenue results for the 2015 third quarter that fell short of analysts' estimates for the period.
Net earnings for the latest quarter were $91 million or 70 cents per diluted share, compared to the 75 cents analysts had forecast.
Tiffany's worldwide net sales were $938 million versus the $971 million analysts had been expecting.
"As expected, the strong U.S. dollar continued to put pressure on our financial results, specifically from the translation of non-U.S. sales into dollars and on foreign tourist spending in the U.S. In addition, we believe that volatile, uncertain economic and market conditions in the U.S. and other regions are affecting consumer spending, causing us to maintain a cautious near-term outlook," company CEO Frederic Cumenal said in a statement.
Separately, TheStreet Ratings team rates TIFFANY & CO as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:
We rate TIFFANY & CO (TIF) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, expanding profit margins, good cash flow from operations and notable return on equity. We feel its strengths outweigh the fact that the company has had lackluster performance in the stock itself.
Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of Jim Cramer, TheStreet or any of its contributors.