March 21 Tiffany & Co said on Friday it expects net worldwide sales to rise in the high single digits in percentage terms this year, with growth in all regions.
The upscale New York-based jeweler reported a loss of $103.6 million, or 81 cents per share, in the fourth quarter ended Jan. 31, due primarily to losing an arbitrations ruling against The Swatch Group. A year earlier, it recorded a profit of $179.6 million, or $1.40 a share.
Excluding the arbitration loss, Tiffany earned $1.47 per share last quarter.
The company said it expected a profit of $4.05 to $4.15 per share this fiscal year. (Reporting by Phil Wahba in New York; Editing by Jeffrey Benkoe)