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September 04, 2006
Tiffany's Sales Jump While Earnings Slide
Sales at Tiffany & Co. jumped 9% in the second quarter to $575 million.
The jewelry retailer’s earnings slipped to $41.1 million from $50.5 million a year ago, in large part due to a $6.6 million tax benefit it received last year.
The New York-based company also cited slower sales in Japan and higher sourcing costs as reasons why earning slid in the quarter ended July 31.
Tiffany is predicting a mid-single digit earnings increase in the third quarter, before taxes.
Posted by Blacks on September 4, 2006 09:36 AM
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