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Tiffany is one of the first U.S. retailers to publicly Jewellery on Sale the financial effects of the catastrophe in Japan, which accounts for 18% of the company's sales. The jeweler said it experienced a number of closings and the result of these events Return to TIFF Heart Lock Cuff other general disruptions in Japan would affect earnings by five cents a share in the current quarter. It expects sales in Japan to fall 15% in the current quarter. "We cannot forecast for Japan for subsequent quarters, so our expectation for the second, third, and fourth continue to call for Return to TIFF Heart tag bracelet roughly equal to the prior year in Japan," Chief Financial Officer James Fernandez said. Japan has been a trouble spot for Tiffany, but the company was starting to see sales pick up until the earthquake hit.Now, the Japanese may not be eager to spend on the types of products Tiffany sells and tourism may be way down. Tiffany's sales in Japan rose 7% for the year, Return to TIFF heart tag Charm and bracelet all of the increase was attributable to the currency-translation effect from a more-robust yen, which was 8% stronger than the prior year. On a constant-exchange-rate basis, total Japan sales for the year declined 1% and comparable-store sales fell 4%. Return to TIFF Heart Tag Charm Set forecast current-quarter earnings per share of 57 cents. It sees world-wide sales growth of 11% in the first quarter, despite the 15% decline in Japan. For the fiscal quarter ended Jan. 31, Tiffany posted a profit of $181.2 million, or $1.41 a share, up from $140.4 million, or $1.10 a share, a year earlier. The latest result included three cents a share in costs related to the pending relocation of New York headquarters staff.Many stores in tokyo are ready to reopen today after a three-day weekend as the city begins the long road back to some sense of normalcy but Tiffany & Co. on Monday gave the first indication of the financial hit fashion companies are likely to take as a result of the disaster.