Tiffany’s Golden Balance Sheet

As it prepares to launch a new collection, Tiffany’s accounts are going swimmingly. The star of the American jewelry brand continues to shine. In the second fiscal quarter, profits increased by 19% thanks to good sales in the Americas (+9% to 484 million), in the Asia-Pacific region (+14% to 237 million dollars) and in Europe (+8% to 120 million). The company, in the wake of results that have clearly exceeded analysts’ forecasts, has raised its estimates for the current year by 5 cents to a range between 4.20 and 4.30 dollars per share. “The good results reflect solid sales growth (compared sales rose by 3%),” said CEO Michael Kowalski, who will leave his place in March to Frederic Cumenal, as anticipated by Gioiellis.com. The company reported profit of $124.1 million, or 96 cents a share, for the three months, up from $106.8 million, or 83 cents a share, in the same period a year earlier. Revenue rose 7% to $992.9 million, while analysts had expected a profit of 85 cents on revenue of $988 million.