NEW YORK (TheStreet) --Shares of Tiffany & Co. (TIF) - Get Tiffany & Co. Report are down by 4.80% to $81 in pre-market trading on Thursday morning, after the luxury jewelry retailer posted its 2015 second-quarter earnings results, which fell short of analysts' expectations.
For the most recent quarter, Tiffany said its adjusted earnings came in at 86 cents per diluted share on worldwide net sales of $991 million.
Analysts surveyed by Thomson Reuters had forecast for earnings of 91 cents per share on revenue of $1.01 billion for the three month period ended July 31.
The company said its second-quarter profit and guidance for the full year declined as a strong dollar resulted in less tourist spending in the U.S. and lowered value internationally.
"We entered this year expecting translation and tourism-related pressures on sales and earnings from the exceptionally strong U.S. dollar, as well as challenging economic conditions in certain markets," Tiffany CEO Frederic Cumenal said in a statement.
For the full fiscal year the company is expecting earnings to be 2% to 5% below Tiffany's 2014 full-year earnings of $4.20 per diluted share.
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."
You can view the full analysis from the report here: TIF Ratings Report