Tiffany lowers outlook as shoppers remain cautious

New York • Upscale jewelry chain Tiffany & Co. lowered its outlook for the year on Monday as the wealthy cut back on buying baubles in an uncertain economy. Company shares rose more than 7 percent Monday, however, as revenue in established stores, a key measure for retailers, declined less than analysts had expected in the second quarter. Investors may also have been encouraged that Tiffany is planning stores in new cities despite its challenges. The affluent had been spending more since the Gre...