It is better to say nothing than to mumble. Investors read wishy-washy comments from management as a sign of trouble and that is precisely how it has played out at Tiffany. In November, the company indicated that there would be a slowdown in sales at year end but did little to explain the causes or details. The shares took a nasty step down then, losing about a 10th of their value. Yesterday, the company updated investors on holiday sales and results were even worse than expected. Earnings guidance was trimmed and another 10th was promptly shaved off the shares.
与其含含糊糊，不如什么都不说。投资者会把管理层闪烁其词的评论，看作有问题的迹象，这恰恰是蒂芙尼(Tiffany)目前的情况。该公司在11月份曾表示年底销售将会放缓，但对其原因和细节却几乎未作任何解释。当时股价就有令人不快的下跌，跌幅为大约十分之一。本周二公司向投资者公布节假日期间销售，结果比预期情况更糟。盈利预期下调，公司市值的又一个十分之一瞬间蒸发。
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