Tiffany & Co. has cut profit forecasts for the rest of fiscal 2001.
Tiffany, a retailer of fine china, glassware and jewelry with a manufacturing facility in Cumberland, said it expects earnings in the range of 12 cents to 15 cents per diluted share in the third quarter, compared with 24 cents a year earlier. For the fourth quarter, the jeweler forecast earnings of 49 cents to 56 cents per diluted share, compared with 56 cents in 2000.
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In August, Tiffany said it expected to earn 22 cents to 24 cents a share in the third quarter and 60 cents to 65 cents in the fourth quarter.
The company opened it’s 100,000 square foot facility at Highland Park in Cumberland after a two-year trial at a small manufacturing plant in Warwick proved successfull.
