Tiffany’s first quarter sales slip

Tiffany & Co. reported last Wednesday that global comps for the company fell slightly in the first quarter. The New York-based retailer’s same-store sales in the Americas rose 1 percent year-over-year in the first quarter ended April 30. Total sales for the region were up 3 percent on a constant-exchange-rate basis, reaching $444 million in the three-month period. Worldwide net sales hit $962.4 million in the first quarter. CEO Frederic Cumenal said the company has a cautious outlook for the rest of the year in light of “global economic uncertainties.”