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Market Movers

Tiffany raises full-year earnings outlook

Sales of statement jewelry (valued over $50,000) and fine jewelry helped Tiffany.

Patrick Fallon/Bloomberg News

Sales of statement jewelry (valued over $50,000) and fine jewelry helped Tiffany.

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Tiffany & Co. boosted its full year-earnings forecast after second-quarter profits rose on strong sales in China that offset sluggish US growth. It earned $106.8 million, or 83 cents per share, compared with $91.8 million, or 72 cents, a year ago. Revenue rose to $925.9 million from $886.6 million. Analysts predicted earnings of 74 cents per share on revenue of $941.5 million. Tiffany now expects full-year earnings of $3.50 to $3.60 per share, up from $3.43 to $3.53.

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