Tiffany (TIF) sails past the estimates of analysts with its quarterly results as global demand in the luxury sector holds up.
Comparable-store sales rose 11% in FQ1, led by strong growth in Asia and the Americas.
Sales growth by region: Americas +8%; Asia-Pacific +17%; Japan +20%; Europe +9%.
Inventory was up 6.1% Y/Y and 4% Q/Q to $2.42B.
Tiffany sets FY14 EPS guidance at $4.15-$4.25 vs. $4.05-$4.15 prior and $4.17 consensus.