By  on March 23, 2009

A 75.6 percent drop in fourth-quarter earnings and tepid sales outlook notwithstanding, Tiffany & Co. intends to stay on the sidelines of the current promotional furor running through the jewelry market.

“While we believe our sales were negatively affected by the rampant discounting of some other jewelers and high-end competitors, we did and will continue with our full-price philosophy in order to maintain appropriate margins and, very importantly, to maintain the integrity of the Tiffany & Co. brand,” said executive vice president and chief financial officer James Fernandez on the company earnings call Monday morning.

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