Tiffany profit falls 11% on Japan

Chris Burritt Tiffany&, the US luxury jewelry retailer, said second-quarter profit fell 11%, missing analysts’ estimates, as sales declined in Japan.

The company lowered its full-year profit forecast.

Net income dropped to $36.6 million from $41.1m a year earlier. Sales in the period ended July 31 increased 7.7% to $476.6m, helped by the weaker US dollar.