March 10 (Bloomberg) -- runescape Tiffany & Co., the world’s second- largest luxury-jewelry retailer, has decided to shutter its five-year-old chain of Iridesse pearl-jewelry shops after it runescape money lost money and posted disappointing sales. Tiffany will close the 16 stores after it reaches wow gold agreements with landlords to end the leases and sells the inventory, spokesman Mark Aaron said today. The decision was made earlier this year, said Aaron, who declinedtiffany jewelry to specify the timing of the closures or to quantify the impact on Tiffany’s earnings. Abandoning the shops, which sell cultured pearls ranging from $100 to $50,000, is Tiffany’s third failed attempt to branch out beyond its namesake jewelry warhammer online gold stores in recent years. The retailer recently has focused more on new jewelry designs under its main brand and on developing a smaller format for its Tiffany stores. “In this environment, we just felt Iridesse wasn’t a good use of resources,” Aaron said in a telephone interview. Tiffany shares rose $1.26, or 7.4 percent, to $18.20 as of 4 p.m. in New York Stock Exchange Composite trading. They have fallen 23 percent this year. Iridesse generated less than 1 percent of the New York- based company’s total sales of $2.94 billion in 2007. Tiffany reports its fourth-quarter buy wow goldresults on March 23. Cie. Financiere Richemont AG, based in Geneva, is the world’s biggest luxury-jewelry seller. To contact the reporter on this story: Cotten Timberlake in Washington at ctimberlake@bloomberg.net