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Tiffany Q2 Earnings Up 16%

Luxury jewelry retailer, Tiffany & Co. (NYSE: TIF) reported on Tuesday that fiscal second quarter earnings rose 16%, aided by strong sales growth in Asia Pacific and improved margin. The Company also raised its full-year earnings guidance. Tiffany now expects earnings to be in the range of $3.50 to $3.60 a share up from its previous guidance of $3.43 to $3.53 a share. For the period ended July 31, the Company posted a profit of $106.8 million or 83 cents a share compared to a net income of $91.8 million or 72 cents a share, in the year earlier quarter. Same-store-sales grew 5% (excluding the impact of currency   fluctuation). Sales rose 4.4% to $925.9 million.

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