Tiffany, Nordstorm Post Lower Profits

Tiffany & Co. and Nordstrom Inc. reported lower second-quarter profits, while discounter Kohl’s Corp. posted strong earnings growth.

Luxury retailer Tiffany said earnings fell 8% to $36.05 million, or 24 cents a share, meeting Wall Street’s lowered expectations, as sales declined 0.8% to $371.3 million. The New York-based company also warned that second-half and full-year results might miss analysts’ forecasts because of sluggish sales.

Upscale department store operator Nordstrom said profit fell 15% to $38.7 million, or 29 cents a share, but the results were a penny better than analysts’ forecasts. Sales rose 6.1% to $1.55 billion, with most of the growth coming from new stores and from promotions. Sales of full-price goods lagged.

Kohl’s said earnings jumped 35% to $86.5 million, or 25 cents a share, a penny better than forecasts, as it attracted shoppers with its low prices and gained new customers in markets where it recently expanded. Sales climbed 21% to $1.52 billion.