Tiffany's (TIF) reported earnings Mon 27 Aug 2012

Tiffany's (TIF) second-quarter earnings rose 2%, though the jewelry chain's same-store sales dropped 3% and it again cut its full-year earnings and comparable-sales estimates. Shares were rising Friday as expectations were "so low" heading into the luxury jeweler's report, Canaccord Genuity analyst Laura Champine told Dow Jones. "It looked set up for a huge miss," she said, adding "this is one of the very, very few times in my career that a company misses and I'm thrilled with the results."

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