Tiffany Reports Third Quarter 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.”

To access the full press release, click here.