Tiffany profit tops estimates as cost cuts blunt sales drop

EVEN AS SALES FELL ACROSS THE GLOBE, Tiffany eked out a profit increase in its fiscal 2017 second quarter, the jewelry manufacturer said Thursday. / BLOOMBERG FILE PHOTO/KONRAD FIEDLER
EVEN AS SALES FELL ACROSS THE GLOBE, Tiffany eked out a profit increase in its fiscal 2017 second quarter, the jewelry manufacturer said Thursday. / BLOOMBERG FILE PHOTO/KONRAD FIEDLER
NEW YORK - Tiffany & Co., the luxury jewelry retailer, posted second-quarter profit that topped analysts’ estimates as a clampdown on costs helps it weather sluggish demand from its affluent customers. Net income for the three months ended July 31 totaled $105.7 million, an increase of 0.8 percent, as earnings per diluted share were 84…

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