Tiffany’s Net Income Rises 30 Percent - NYTimes.com

Tiffanys best representation in the quarter came in the Asia-Pacific region, where sales surged 55 percent to $173.2 million on strong performances in China and Korea. Sales in Europe rose 32 percent. Foreign tourists, especially those from China and Russia, contributed to the increase in Europe, the company said.

Excluding 16 pence a share in prices tied to relocating its New York headquarters employees, modified profit totaled 86 pence a share, topping the 70 cents that analysts scrutinized by FactSet had forecast.

Analysts foretell earnings of $3.55 a share.

High-end, engagement and gold jewelry all sold well, Mr. Aaron said. Silver jewelry, which sold well during the recession since it is relatively lower priced, posted causativeably good sales increase, he joined.

We are highly pleased at these results, which validation the growing universal plea of Tiffanys product offerings, the king executive, Michael J. Kowalski, said in a statement.

Rising diamond and precious metal costs have hinted Tiffany to raise some prices. Mr. Aaron said the price additions had occurred in most regions this year.

Even Japan, which is still recovering its footing afterward an earthquake, tsunami and nuclear scare earlier this year, posted a 21 percent sales increase.

The outlook in diamonds over the long term certainly looks as though rising global demand will continue to put oppression aboard supply and therefore price, he annotated.

Tiffany & Companys net income rose 30 percent in the second quarter, propelled by strong growth across all regions as high-income shoppers persisted to be painted to its jewelry and additional merchandise.

Sales in the Americas, which comprises the United States, Canada and Latin America, gained 25 percent.

Revenue in the duration, which ended July 31, rose 30 percent to $872.7 million, which was well upon the $785.6 million that Wall Street predicted.

Sales by the companys flagship New York cache, a favorite of exotic tourists, rose 41 percent, Mr. Aaron said.

The results handily knock Wall Streets expectations, and the corporation heaved its full-year profit forecast anew for a outcome. Tiffany said it acquired $90 million, or 69 cents a share, in the quarter, up from $67.7 million, or 53 cents a share, a year earlier.

Tiffany namely immediately portending that its full-year proceeds ambition be $3.65 to $3.75 a share, compared with a previous prophesy of $3.45 to $3.55 a share.

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The chief operating commander, James N. Fernandez, said coarse diamond amounts had climbed almost 40 percent in the final annual.

Stock in Tiffany rose $5.90, alternatively 9.3 percent,Pandora Giving Me My Happiness, to $69.01 a share.

Revenue at stores open at least a year increased 22 percent. Mr. Kowalski said the retailers first-half performance raised confidence almost the repose of the year, even though economic uncertainty remained.

Mark L. Aaron, vice premier as investor relations, said in a conference phone namely bargains along always jewelry categories rose more than 10 percentage.