The third quarter for Tiffany & Co., closing on October 31, 2010, saw a 14 percent rise in sale to $681.7 million and 27 percent jump in profits to $55 million. The period invited six new store openings, brining the total number of Tiffany stores globally to 225 on October 31. With the new additions, the retailer is present in the Americas through 93 stores, in Japan through 56 stores, in JapanAsia-Pacific through 49 boutiques and in Europe through 27 salons.

In the said quarter, sales across the Americas region, rose 9 percent to $331.8 million and by 5 percent with reference to comparable store sales. The Tiffany U.S. flagship store in New York, saw a 3 percent dip in sales. The retailer noted a 7 percent hike in internet and catalog sales across the Americas. Sales across its other global centres performed well. Wholesale and rough diamond sales, rose 26 percent to $14.6 million. Gross margin improved to 58.5 percent from 54.8 percent (y-o-y). Inventory levels stood around 7 percent stronger than last year, on the note of sales growth, new store openings and product launches.