Tiffany Earnings Surge in Quarter

Posted on by Chief Marketer Staff

Tiffany & Co. posted net earnings of $98.9 million for the third quarter, a 239% surge over $29.1 million during the same period last year.

The company attributed these results to strong operating performance and a $328 million gain from the sale and leaseback of its Tokyo store.

The direct marketer and retailer reported net sales of $627.3 million for the quarter ended Oct. 31, an 18% increase over $531.9 million last year.

The New York firm posted direct marketing sales of $31.4 million for the quarter, a 4% over $30.2 million in the prior year.

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