Tiffany's Overseas Profit Tops expectations

¡°Though the luxury goods sector has experienced sharp declines in sales during the economic recession, Tiffany & Co. signaled that the high end of the market could be rejuvenated, ¡± said Matt Arnold, an analyst at Edward Jones&Company.
¡°The main thing that turns out to me is that the dynamic of Sterling Tiffany shall continue to improve, and this should persist for quite a while, because of the holiday season,¡± Mr.Arnold said.
Sales dipping in New York have been slowing, and overseas sales are coming better than expected, Tiffany said, while sales of low- priced items, like the sales of Tiffany &Co. bangle and Tiffany 1837 interloking, are much better than the sales of high price. The Asia-Pacific and European market display a promising outlook with a surge of 10 percent and the other 12 percent during the quarter. However, Tiffany & Co. would never be satisfied with the status quo. And they are preparing to try to offset some of its sales weakness with cost-cutting and inventory management.

TIFFANY & CO. Tiffany 1837™ circle clasp bracelet

TIFFANY & CO. Elsa Peretti® Open Heart bracelet

Friday, December 04, 2009