Tiffany a global story in Q3

|About: Tiffany & Co. (TIF)|By:, SA News Editor

Tiffany (TIF) reports comparable-store sales in the U.S. rose 1% in Q3 to miss the consensus mark of 2%. Global comp store growth was 7% led by Asia.

The company's gross margin rate increased 260 bps to 57.0% as product costs fell back and early price increases stuck.

FY13 EPS is pegged by Tiffany at $3.65-$3.75, up from prior guidance of $3.50-$3.60 and above the consensus mark of $3.62. (PR)

TIF +6.2% premarket.