Tiffany (TIF)

Tiffany & Co. said Wednesday that third quarter profits declined 1 percent to $43.3 million, or 35 cents a share, from $43.8 million a year earlier. Earnings from continuing operations, excluding some items, totaled 33 cents a share. Total revenue dropped 2.9 percent to $598.2 million in the three months ended Oct. 31. U.S. stores open at least a year decreased 10 percent after declining 27 percent in the previous quarter.
Sales and profits topped Street estimates and the company's CEO said Tiffany was "pleased to see that the rate of sales declines in the U.S. lessened as the quarter progressed. At the same time, many countries in Asia-Pacific and Europe achieved considerably better-than-expected sales."

Nov 25 · 12:36:00 PM · Source: Company News
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by Larry Etter