The rich must be getting richer again. Tiffany (TIF) reported its revenue for the quarter that ended January 31 was up 17% to $981 million. EPS moved up to $1.09 from $.30 in the same period a year ago. The quarter was the company’s fiscal Q4. Results from last year were hurt by a $97 million restructuring charge. Improvements in Asia, excluding Japan, were particularly good.
For the entire year, revenue fell 5% to $2.7 billion. But, EPS rose to $2.12 from $1.84.
Tiffany expects sales for its current fiscal to rise 11% and net earnings to go as high as $2.50 The well-to-do are back out in force, so it seems.
Douglas A. McIntyre
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