Jim Cramer: Tiffany Suffering from Tourism Slump

Tiffany & Co. (TIF) - Get Report is suffering from a tourism slump and it will rebound once more travelers hit the road, said TheStreet's Jim Cramer. The New York-based premium retail jeweler posted earnings of 84 cents per share on revenue of $931.6 million. The reported earnings came in above analyst estimates of 72 cents per share. However, revenue fell below projections of $934.7 million. Cramer said he is used to seeing Tiffany guide down, so he viewed the company's decision not to change its guidance as a 'win'.

At the time of publication, Jim Cramer's charitable trust Action Alerts PLUS held no positions in stocks mentioned.