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Tiffany& Co. (NYSE:TIF) reports their Q3 earning results.
Tiffany& Co. (NYSE:TIF) reports their Q3 earning results.
The press release is quoted as saying:
Tiffany & Co. reported a 14% increase in its worldwide net sales for the third quarter ended October 31, 2010, with growth occurring in all geographic regions. The sales increase and a higher operating margin contributed to a higher-than-expected 27% increase in net earnings; net earnings from continuing operations adjusted to exclude nonrecurring items increased 43% (see attached “Non-GAAP Measures” schedule). In response, management increased its outlook for full year earnings growth.
Michael J. Kowalski, Chairman and CEO of the company says:
“As third quarter results demonstrate once again, Tiffany’s expanding, globally diversified store presence provides a significant platform to generate sustainable sales and earnings growth.”