Tiffany&Co Net Profit Growth In The Second Quarter Reached 16%

< p > > a href= "//www.sjfzxm.com/news/index_c.asp" > Tiffany & Co < /a > Tiffany announced today's two quarter earnings report showing that during the period, earnings were significantly increased under the driving of the Chinese market and < a href= "//www.sjfzxm.com/news/index_c.asp" > high-end products < /a >, and the group subsequently raised its annual earnings expectations.

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< p > in the two quarter ended July 31, 2013, Tiffany & Co Tiffany net profit rose 16% to 106 million 800 thousand US dollars, or earnings per share 0.83 US dollars, better than the market forecast of 0.74 US dollars. Last year's net profit and earnings per share were 91 million 800 thousand US dollars and 0.72 US dollars respectively.

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< p > net sales of $926 million, less than $941 million 400 thousand expected by the market, but increased by 4.4% over the same period last year. The sales growth rate in Asia Pacific region reached 20%, sales volume was 208 million US dollars, Europe also recorded a 11% increase, and the Americas increased 2% to 444 million U.S. dollars, although Japan dropped 14%, but increased at a constant exchange rate of 7%.

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< p > Global same store sales grew by 1% compared to the same period last year, and the growth rate was 5% under the constant exchange rate, which was in line with market expectations.

The group's largest market, a href= "//www.sjfzxm.com/news/index_p.asp", "Americas /a", and same store sales were flat compared with the same period last year, and analysts said that US performance was dragged down by the sale of low priced jewellery.

Nevertheless, the same store sales in the Asia Pacific region recorded an increase of 13%, higher than the market forecast of 9%, and the same store sales in Europe increased by 8%. In Japan, the sale of the same store declined by 13% due to the depreciation of the Japanese yen, while the growth rate was 8% under the constant exchange rate.

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The P group opened a new store in Hongkong, Italy and Mexico during the group period. As of July 31, 2013, the total number of stores in the world was 277, compared with 260 in the same period last year.

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< p > Tiffany & Co chairman and chief executive Michael J. Kowalski said in the earnings report that the overall sales growth was in line with the group's expectations, most of the regions performed well, and the high-end jewelry series was particularly strong. Especially, the gross margin was increased from 56.3% in the same period last year to 57.5%.

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< p > Tiffany & Co raised the annual earnings per share to 3.5-3.6 US dollars, an increase of 0.07 US dollars over the previously anticipated range.

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< p > after the release of the earnings report, the volatility of Tiffany & Co shares is uncertain.

At the time of the deadline, the Tiffany & Co disk reported 81.73 US dollars and listed 0.07%, so far this year, Tiffany & Co has increased by 45.2%.

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