Bling-bling, the blue box and big profits
No one expected a luxury jeweler to post better than expected earnings during such tough economic conditions. Today, Tiffany & Co. reported a 19% increase in profits!
It appears the tough times have not trickled overseas. Demand from consumers in Europe and Asia more than offset stagnant domestic sales figures. Increased demand overseas and the weak dollar led Tiffany’s to a 12% sales increase over the same quarter last year.
Shares of the New York based aficionado of “bling” are trading up three to four percent on today’s announcement.
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