Luxury is Back - Tiffany & Co. (TIF) Aces Q4

With total sales up 17% for November and December, while same-store sales were up 12% for the same time frame, Tiffany & Co. (TIF) is either doing something very right, or consumer spending is springing back to life.

The rebound still doesn't restore yesteryear's numbers; Tiffany & Co. saw a 21% decline in November and December sales a year earlier. Yet, it does paint a relatively encouraging picture.

Luxury spending was proven not to be bulletproof, as we saw in 2008. More often than not though, high-end shopping doesn't slow down for much of anything. With that as a backdrop, one has to wonder if luxury spending will post the biggest and fastest recovery among all retail segments. The results certainly suggest so.