NEW YORK (Reuters) –
Tiffany & Co (TIF.N) posted a lower quarterly profit on Wednesday, hurt by weak domestic sales, and the upscale jeweler slashed its full-year outlook, citing the economic uncertainty.

The company warned that weak sales would persist through the current quarter, which includes the key holiday shopping season.

Tiffany's net profit fell to $43.8 million, or 35 cents per share, in the third quarter ended October 31, from $101.5 million, or 73 cents per share, a year earlier.

Worldwide sales fell 1 percent to $618.2 million, while sales at stores open at least one year declined 7 percent.

The New York-based jeweler now expects full-year net earnings of $2.30 to $2.50 per share, with sales unchanged to down 2 percent, Tiffany said.

It had previously forecast worldwide sales growth of about 9 percent and earnings of $2.82 to $2.92 per share for the year.

Tiffany shares were down 2.8 percent at $20.25 in light premarket trading.

(Reporting by Aarthi Sivaraman; Editing by Lisa Von Ahn)