Tiffany retains its luster

Tiffany & Co. (TIF) may not be not recession-proof, but it is weathering the economic maelstrom better than many other retailers.

The New York-based luxury retailer reported earnings of $31.1 million, or 25 cents a share, compared with $127.4 million, or 96 cents a share a year ago. Revenue dropped 20 percent to $841.2 million. Earnings were 85 cents when job cuts and other one time items are excluded. On that basis, analysts had expected earnings of 79 cents, according to Bloomberg.