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Aaron Spatz is the writer of SEC Live Filings Digest, detailing the news of companies trading on U.S. stock exchanges. The Filings Digest is but one component of the greater website SEC Live, which specializes in making SEC filings easy to read, research, navigate, and much more.
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  • Tiffany & Co. Earnings Rise 50% 0 comments
    Nov 26, 2013 11:59 PM | about stocks: TIF

    Originally published at www.seclive.com

    Tiffany & Co. (NYSE:TIF) announced its third quarter financial results for the 2013 fiscal year, reporting an earnings increase of 50%. Sales improved 7% to $911M while comparable-store sales increased 7% in all regions. The company's region with the highest sales increase was the Asia-Pacific region, with a 27% increase to $238M while Japan was the largest underperformer, with total sales declining 13% to $128M. Tiffany's gross margin improved slightly from 54.4% a year ago to 57.0%, a reflection of lower product costs and higher prices for consumers. Chairman and CEO Michael Kowalski commented that the company is very pleased with its results, with overall earnings improving more than sales, a result of smart cost management. The Tiffany & Co. brand has seen marked success in its ATLAS collection as well as its yellow diamond sales, which has led the way for the fine and statement jewelry line.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Themes: financial results, earnings Stocks: TIF
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