Tiffany Raises Full Year Outlook Based on Strong Holiday Sales

- January 12th, 2011

Tiffany& Co. (NYSE:TIF) announced that two month sales, ending Dec 31, 2010, went up 11%.

Tiffany& Co. (NYSE:TIF) announced that two month sales, ending Dec 31, 2010, went up 11%.

The press release is quoted as saying:

Worldwide net sales increased 11% to $888.5 million in the holiday period. On a constant-exchange-rate basis which excludes the effect of translating foreign-currency-denominated sales into U.S. dollars, worldwide net sales and comparable store sales increased 10% and 8% (see attached “Non-GAAP Measures” schedule). Results are based on unaudited sales.

Michael J. Kowalski, Chairman and CEO of  Tiffany’s, said:

 “We are very pleased with this worldwide sales growth, and with the increases we saw in every region in both months of the holiday period. Healthy sales growth was seen across most product categories, with particular strength in Tiffany’s fine jewelry collections, diamond engagement rings and fashion gold jewelry, although with limited growth in silver jewelry sales.”

To access the full release, click here.

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