Shares of Tiffany & Co. (TIF) - Get Report were higher Thursday after posting second quarter results which beat on the bottom line, but missed on the top line. The luxury jeweler posted earnings of $0.84 a share, which beat Wall Street's expectations by 13 cents. But, revenue of $931.6 million for the period missed analysts' predictions of $933.3 million. Looking ahead, Tiffany's maintained its full-year earnings outlook of $3.83 a share. CEO Frederic Cumenal said in a statement that the global environment continues to reflect well known challenges that have had broad effects on spending by local customers, as well as foreign tourists, especially from China.
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