Jewelers offer sparkling outlooks

Positive outlooks from jewelry retailers suggest confidence in the coming months, despite a softening U.S. economy that has many Americans holding back on discretionary spending.

Here's a snapshot of how Tiffany & Co. and Zale Corp. fared in the second quarter and fiscal fourth quarter, respectively.

_Tiffany & Co., a New York-based luxury retailer:

PROFIT: Doubled on strong sales overseas

SALES: Up 11 percent

SAME-STORE SALES: Down 1 percent

OUTLOOK: Raised full-year profit forecast

— Zale Corp., a Texas-based jewelry retailer:

PROFIT: Swings to loss amid inventory reduction

SALES: Up 6.1 percent

SAME-STORE SALES: Also up 6.1 percent

OUTLOOK: Projected full-year profit above expectations

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Jewelers look abroad to boost sales as US slows

Associated Press

Thu Aug 28

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