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Tiffany & Co. posts steepest sales drop in six quarters

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Luxury jewelry retailer Tiffany & Co. reported its steepest sales drop in six quarters, citing a strong dollar discouraging tourists from buying its products.

Sales decreased 7.4 percent to $891.3 million, missing the average analyst estimate of $915.1 million.

Net income fell 16.6 percent to $87.5 million, or 69 cents per share.

Read more from Reuters.

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