Net sales at Tiffany & Co. dropped 22 percent to USD $ 523.1 million in the first quarter ending 30 April 2009, the company said in a recent announcement. On a constantexchangerate basis, worldwide net sales declined 18 percent. In the Americas, overall Q1 sales decreased by 31 percent to USD $ 259 million, but in the Middle East, AsiaPacific region, sales declined by only 9 percent in the same quarter. According to Tiffany & Co. Chairman & CEO Michael J. Kowalski, these financial results were consistent with managements expectations for the quarter.