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March 25, 2008
Tiffany's Sales Surge 10%, Beating Expectations
Tiffany & Co. reported better-than-expected results for last year, even though a one-time charge ate into its profits. Profits fell 16% to $118.3 million due to a discontinuation of some watch styles and a write-off of loans on Tahera Diamond.
The company’s total sales increased by 10% to $1.1 billion, however, which exceeded analysts’ expectations.
While sales in the U.S. were relatively sluggish, international sales rose 21%, leading the retailer to plan new store openings in international markets.
Posted by Blacks on March 25, 2008 09:45 AM
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