Tiffany & Co. Post 27% Increase In Profit

Published by: Kelly Curtis on 24th Nov 2010 | View all blogs by Kelly Curtis
tiffany_logo.gif
Tiffany & Co. Post 27% Increase In Profit

Tiffany & Co. released its third-quarter results on Wednesday, reporting a rise of 27 percent in profits, and raised its full-year earnings forecast.

Excluding certain items, profits for the world's second-largest luxury jewelry retailer, will climb to $2.77 per share this year, compared to $2.12 per share in 2009, the company said.  Analysts had forecast earnings of $2.64 on average.  Shares of the company's stock rose to a record-high on the report.

Tiffany introduced its first new handbag collection in 20 years in September in an effort to extend the brand.  Additional new products from the company include men's briefcases, purses, wallets, and business card holders.  The company had a total of 225 stores at the end of the third quarter, compared to 215 last year, with six new stores opened in the Asia / Pacific region.

Shares of Tiffany rose $2.54, a 4.4 percent rise, to $60.81 as of 10:25 AM ET.  The stock had already gained 36 percent on the year before today's reports.  The company's net income grew to $55.1 million, or 43 cents per share, for the third-quarter, compared to $43.3 million, or 35 cents per share in the same period in 2009.  Excluding costs associated with relocating its headquarters, profit was 46 cents per share, compared to analysts' projections of 36 cents per in a recent Bloomberg survey.

Comments

0 Comments

     
Please login or sign up to post on this network.
Click here to sign up now.

Latest DT's

  • View DT's
    Here's a great bio that Full in Bloom did for the band Possessedhttp://fullinbloommusic.com/biography-possessed.html View DT's
    3 years ago by Geno
  • View DT's
    Rated: PG-13 In Theaters: January 24th Director: Stuart Beattie Starring: Aaron Eckhart, Bill Nighy, Yvonne ... View DT's
    3 years ago by dallaseste
  • View DT's
    Rated: PG-13 In Theaters: January 10th Director: Renny Harlin Starring: Kellan Lutz, Gaia Weiss, Scott Adkins View DT's
    3 years ago by dallaseste
  • View DT's
    Rated: R In Theaters: December 4th Director: Scott Cooper Starring: Christian Bale, Casey Affleck, Zoe Saldana, Sam ... View DT's
    3 years ago by dallaseste
  • View DT's
    Rated: PG-13 In Theaters: December 13th Director: Peter Jackson Starring: Ian McKellen, Martin Freeman, Richard ... View DT's
    3 years ago by dallaseste
  • View DT's
    Rated: R In Theaters: January 3rd Director: Gregory Plotkin Starring: Andrew Jacobs, Jorge Diaz, Gabrielle Walsh View DT's
    3 years ago by dallaseste
  • View DT's
    Rated: TBD In Theaters: February 7th Director: George Clooney Starring: George Clooney, Matt Damon, Bill Murray, Cate ... View DT's
    3 years ago by dallaseste
  • View DT's
    Rated: PG-13 In Theaters: January 17th Director: Tim Story Starring: Ice Cube, Kevin Hart, John Leguizamo, Bruce ... View DT's
    3 years ago by dallaseste
  • View DT's
    Rated: R In Theaters: January 17th Directors: Matt Bettinelli-Olpin, Tyler Gillett Starring: Allison Miller, Zach ... View DT's
    3 years ago by dallaseste

Top Authors

Subscribe