Tiffany expects pressure on profit to ease; shares up

Tiffany & Co cut its sales and earnings forecasts on Monday for the second straight quarter, citing a tough global economy and muted expectations for the holiday season, but the prospect of improving profit margins later in the year comforted investors. Tiffany window-display / Photo: TiffanyShares of the jeweler rose 7 percent to $62.62 on its expectations that pressure on margins from gold and diamond costs are at last easing this quarter. Tiffany said gross margin should start to rise again

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