Tiffany struck a cautious note on Friday about 2014, giving a profit forecast that was below estimates despite its projection that net worldwide sales would rise by a high-single digit percentage this year.
The company, which has bet its growth on emerging markets such as China and Russia, is likely being conservative because of growing economic and political uncertainty in some markets, and still sluggish growth of its less expensive silver jewelry in the United States, analysts said.
Tiffany, known for its blue boxes and Fifth Avenue flagship store in Manhattan, forecast a profit of $4.05 to $4.15 per share this fiscal year. Wall Street analysts projected $4.28 a share, according to Thomson Reuters I/B/E/S.
(Read more: Cautious consumers will boost these luxe brands: Pro)
After a painful 2012, when Tiffany lowered its bullish profit forecasts four times, the company has grown more cautious in its projections.