Luxury jeweler Tiffany forecast a surprise decline in full-year profit and reported an unexpected fall in second-quarter sales as a strong dollar discouraged tourist spending in the United States and reduced the value of overseas sales. New York-based Tiffany, which gets about half of its sales from outside the U.S., has said currency fluctuations have reduced sales by 2-7% in the past three quarters.
Tiffany's total revenue fell 0.2%, to $990.5 million in the second quarter from $ 992.9 million a year earlier.
Analyst on average had expected sales to rise to $1 billion.