Tiffany (TIF) Beats Analysts Forecasts, Expect Higher Revenues During Holiday Season

Tiffany & Co. (NYSE: TIF), the high end jewelery retailer that operates through 215 stores and boutiques globally, reported better then expected quarterly profits & also raised its forecasts for the full year earnings.

Earnings per share of 35 cents were higher than analyst expectations of 24 cents per share. The company told reporters it has been able to perform much better then expected mainly on account of lesser decline in US sales, and Europe & Asia Pacific performing better then expected.

The solid start of sales for the Holiday season has also raised hopes of the company which was hit hard during the recession when consumers curtailed spending money on non essential items like jewelry.
On account of the positive news, during the in trading before the market opened, Tiffany shares were up 5.8 percent at $44.25.