Tiffany's reveues up 30.5% in July quarter

At the end of the quarter closing July 31, 2011, Tiffany & Co. earned 30.5 percent increase (y-o-y basis) in its revenues to $872.7 million. This according to the retailer, has been a fairly sucessful result, as it has been able to achieve increase in its margins despite the hike I precious metal and gemstone prices. Wholesale and ''other'' sales rose 46 percent to $17.4 million with stronger demand for finished products as compared to a reduced demand for rough diamonds. There was a 22 percent increase in its same-store sales ad a 32.5 percent increase in net earnings which valued $90 million.

Also, most of the retailer’s major markets reported a good increase in sales, with which it is looking ahead at the following quarter with added optimism.

The Americas reported a rise of 25 percent, and the New York flagship store noted a 41 percent hike in sales. The Asia-Pacific region sales jumped 55 percent to $173.2 million. Across Europe, sales rose 32 percent to $101.3 million.

The retailer’s cost of sales were also higher by 27 percent to $358 million. Its inventory rose 18 percent year on year.