Upscale jeweler Tiffany's quarterly sales fell for the first time in five years and are expected to decline further in the current quarter, hurt by the strong dollar.
Shares of the No. 1 U.S. jeweler fell nearly 4 percent before the bell on Friday.
Tiffany said sales fell 1 percent in the fourth quarter ended Jan. 31 and are expected to fall 10 percent in the quarter ending April. Profit is expected to drop 30 percent.
Read MoreDarden's quarterly sales rise 7%
New York-based Tiffany in January had cut its profit forecast for the year, saying the stronger dollar not only reduced the value of sales outside the United States, but also hurt sales to tourists in the country.
Tourists spend more than $200 billion annually in the United States, but growth in 2015 is expected to decelerate as would-be visitors balk at the stronger dollar and grapple with weaker economies at home.