loray's tiffany jewelry blog

Due to Christmas sales better than expected, jeweler Tiffany Co Raised its full-year performance targets, which is a sign of luxury, one of the industry started to recover.

Tiffany Tuesday said that as at December 31 until the two-month sales rose 17% to 799.1 million U.S. dollars. Excluding currency effects, sales rose 13% while same-store sales growth of 8%. Tiffany has 220 stores.

The company ended January 31 fiscal year earnings per share target from 1.98 U.S. dollars raised from 2.07 to 2.12 U.S. dollars. Tiffany expects full-year sales of up to 2.7 billion.

Analysts polled by FactSet expected earnings per share were 1.96 U.S. dollars of its full-year sales of 2.65 billion U.S. dollars.

The stock rose 0.3% premarket, the Unit has more than doubled over the past year.

The high-end retailer Tiffany peer Saks Inc. And Nordstrom Inc. Last week's sales were better than expected, indicating consumer spending is gradually recovering, more and more consumers began to buy luxury goods.

Due to depreciation of the dollar, tourists began to return to the United States, which is also made Tiffany benefit. The company most of the overseas market demand remained strong.

Analysts pointed out that "because of the high-income customers looking for special gifts, high-end jewelry sales heat up during the Christmas holidays."

Credit Suisse analyst Paul Lejuez said in a research report, "said sales trends in overseas markets continued to improve, while the U.S. domestic market has improved. 2009 fiscal year due to a low base, the company's 2010 fiscal year results easier to increase. "He also said that the decline in the cost of diamonds and precious metals will also enhance Tiffany profit margins.

Tiffany co jewellery in the United States sales rose 15% to 443.9 million U.S. dollars. U.S. same-store sales growth of 12%, its flagship store in New York, same-store sales growth of 20%, and other stores same-store sales growth of 10 percent. Shopping needs of local customers and visitors are on the rise. U.S. Internet sales and mail-order sales increased by 17%.

The results exceeded analyst expectations. Lejuez had expected same-store Tiffany U.S. sales rose 4% to 6%, global sales growth of 8% to 10%.

Tiffany said sales in Canada and Latin America have also increased.

Asia-Pacific sales increased 11% to 240.8 million U.S. dollars. Excluding currency effects, sales rose 4% while same-store sales growth of 1%.

Japanese sales fell 12%, but sales in other regions surged 26%.

European sales rose 30% to 103 million. Excluding currency effects, sales rose 19% while European same-store sales increased by 16%, Britain and most other countries have a double-digit growth in sales.