Jim Cramer: Stay Long Tiffany

Tiffany offered an impressive earnings report even if they were jumping over a lowered bar, said TheStreet's Jim Cramer.
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Tiffany (TIF) - Get Report offered an impressive earnings report even if it was jumping over a low bar, said TheStreet's Jim Cramer. Propped up by a combination of stock repurchases and lower costs for gold and other metals, Tiffany's earnings came in at 76 cents a share, outpacing Wall Street forecasts of 68 cents. The company surprisingly maintained its full-year sales and earnings outlooks despite global economic challenges weighing on demand for pricey jewelry and post-election protests of Donald Trump in front of Tiffany's iconic store on Fifth Avenue in New York. Tiffany foresees worldwide sales falling by a low-single-digit percentage, while earnings are expected to decline by a mid-single-digit percentage.