Tiffany’s revenues up 13% in Q1

For its first quarter of 2014, Tiffany & Co. recorded a rise in revenues and profits, much supported by the increased sales of the retailer’s low-cost jewellery range, reports say. Revenues rose 13 percent on y-o-y basis to $1 billion, reports suggest. On a constant currency basis, Tiffany’s worldwide net sales were up 15 percent and same-store sales rose 11 percent in the three months, reports say. Net income rose 50 percent on y-o-y basis, to touch $125.6 million.

The rise in earnings surpassed analyst’s expectations, reports add.