Tiffany's Holds On in Reeling Industry

Both jewelers are performing poorly in this economic environment, with sales and profits slumping dramatically in most recent quarterly fillings. However, Tiffany's last quarterly filing (fourth quarter 2008) indicated that the company still managed to make a profit ($31 million), while Zales experienced a net loss (about $23.6 million) for the same three month period. Operating declines continue for Zales as the company announced a $23.2 million net loss in its latest quarterly filings, released May 27.