Its better-than-expected third-quarter results were overshadowed by the high-end jewelry retailer's disappointing earnings outlook for this quarter.

WSJ: Dow Holds Gains, Up 32 Points

The upscale jewelry company also offered an annual sales outlook that topped analysts' estimates, and its shares rose more than 4 percent in premarket trading Friday.

WSJ: Tiffany 4Q net income rises less than 1 pct

Needless to say, much of the jewelry industry in North America does not share this rosy outlook.

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