Did you ever think for one second that the buyers were sensitive to the price of Tiffany? Tiffany jewelry said it earned more money in recent months and has increased its forecast for its fiscal year ending on January 31. Although gold prices soar, people have been buying more jewelry there are some had expected. The high-end New York store, founded more than a hundred years ago, said its net profit for the quarter ended October 31 rose 23% to $ 29.1 million.
Tiffany's earnings per share totaled 21 cents during the quarter, while the average analyst estimate had been 16 cents a share, according to StarMine San Francisco research firm. The shares rose 7.2% to $ 38.51 per share in early trading on the New York Stock Exchange. Tiffany's net sales rose 10% to $ 547.8 million during the quarter compared to last year. During the holiday period of November and December, Tiffany & Co. U.S. Sales growth at stores open more than a year is greater than its expectation of high single digits.
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