Dazzling quarter and guidance for Tiffany

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.

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