Pursuits
Tiffany Profit Tops Estimates Amid Tepid Sales in Americas
This article is for subscribers only.
Tiffany & Co., the world’s second-largest luxury jewelry retailer, reported second-quarter profit that topped analysts’ estimates as price increases and declining product costs helped counter tepid sales in the Americas.
Net income in the quarter ended July 31 rose 16 percent to $106.8 million, or 83 cents a share, from $91.8 million, or 72 cents, a year earlier, the New York-based company said today in a statement. Analysts projected 74 cents, the average of 22 estimates compiled by Bloomberg.