New York (CNN Business)Tiffany & Co. already warned in January that sales during the holiday were weak. It turned out that demand for jewelry and other bling in the company’s trademark blue boxes was a bit worse than what investors expected.
Shares of Tiffany (TIF) fell 5% in early trading after the company reported that sales for its fourth quarter were a bit below the already-lowered forecasts. They bounced back after market open, though, and were up about 3% in early trading.
The company blamed a drop off in tourist spending in the United States and Europe for the shortfall.
