What Affected Tiffany’s Third-Quarter EPS?
Tiffany reported adjusted earnings of $0.77 per share, which was in line with analysts’ estimate but declined 3.8% on a YoY basis. Tiffany’s planned investment in long-term growth measures adversely impacted the bottom line and more than offset the benefits from improvement in sales and higher gross margins. Tiffany’s third-quarter EPS gained from lower input costs and a decline in wholesale diamond sales.