Sales at Tiffany & Co. up 12.2% in fiscal Q4

Sales in Americas region rose 10%
Sales at Tiffany & Co. up 12.2% in fiscal Q4

Tiffany & Co. noted a good end to its fiscal year 2010-11 with increased sales and profits in the fourth quarter. In the fourth fiscal quarter ending January 31, 2011, its total global sales registered a 12.2 percent increase to $1.1 billion, same-store sales rose by 9 percent and profits increased 29 percent to $181.2 million.

In this period, the retailer’s cost of sales was up 6.1 percent to $430 million, gross margin was up 60.9 percent (58.7 percent in previous fourth fiscal quarter). The retailer also launched nine new stores.

Region-wise, Tiffany saw a 10 percent increase in its sales in the Americas region amounting to $577 million in which U.S. store sales rose 9 percent sales at the New York flagship store increased 2 percent. Comparable store sales were up 8 percent in the Americas, and by 16 percent in both Asia-Pacific and in Europe, and by 1 percent in Japan.

In the fiscal year, the retail giant saw sales rising 13.9 percent to $3.09 billion and comparable store sales increasing 8 percent. Profits increased 39 percent to $368.4 million.


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