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Tiffany Q3 net sales unchanged

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Christian Fernsby ▼ | December 5, 2019
Tiffany reported its financial results for the third quarter ended October 31, 2019.
Tiffany   On a constant-exchange-rate basis worldwide net sales unchanged
Worldwide net sales for the third quarter were unchanged from the prior year and decreased 2% in the year-to-date period.

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On a constant-exchange-rate basis, which excludes the effect of translating foreign-currency-denominated sales into U.S. dollars, worldwide net sales for the third quarter were 1% above the prior year and unchanged in the year-to-date period.

Net earnings declined in both periods, reflecting lower operating margins, a higher effective income tax rate for the third quarter and a slightly lower effective income tax rate in the year-to-date period, in each case, as compared to the prior year.