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Tiffany Boosts Outlook After Strong Holiday

Tuesday, 12 Jan 2010 08:34 AM

Tiffany & Co. boosted its annual profit forecast Tuesday because of strong holiday sales worldwide.

The luxury jeweler known for silver and its signature turquoise boxes says global sales climbed 17 percent in November and December.

Now the New York company expects to earn between $2.07 to $2.12 per share from its continuing operations. That's better than its earlier forecast of $1.88 to $1.98 per share for the fiscal year ending in January.

It expects sales to hit $2.7 billion.

Analysts expect a profit of $1.92 per share on revenue of $2.65 billion. That excludes one-time charges.

In the U.S., holiday sales grew 15 percent. Sales in stores open at least a year rose 12 percent.

Tiffany will formally report results in March.

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Tiffany Co. boosted its annual profit forecast Tuesday because of strong holiday sales worldwide.The luxury jeweler known for silver and its signature turquoise boxes says global sales climbed 17 percent in November and December.Now the New York company expects to earn...
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