Tiffany has been slow to innovate while the market has grown to offer a wide variety of high-end jewelry.
Walmart's rising minimum wages are contributing to the decline in net profit, as are currency fluctuations.
Whole Foods posted on Wednesday its weakest growth since 2009 during the economic downturn.
Toyota, Nissan and Mitsubishi have expanded a recall of cars to replace airbags made by Takata.
This week, the firm raised its full-year revenue forecast to $2 billion after sales rose 6%.
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Move comes after the car parts maker said it was doubling the number of cars it had recalled to 34 million.
Ascena has grown through acquisitions and after this deal will operate nearly 5000 stores.
The move would increase the number of its stores in the world's second largest economy by almost a third.
In total, revenue climbed 27 percent to $58 billion, up from $45.6 billion last year.
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