Tiffany & Co. posts $92 million earnings in Q2

Tiffany & Co. has recently reported that in its second quarter the company earned $92 million, or $0.72 per diluted share, on worldwide net sales of $887 million. Results were in-line with management’s expectations. In the three months (second quarter) ended 31 July 2012, Worldwide net sales of $887 million were 2 percent above the prior year. On a constant-exchange-rate basis that excludes the effect of translating foreign-currency-denominated sales into U.S. dollars, worldwide net sales increased 3 percent and comparable store sales declined 1 percent. Net earnings rose 2 percent to $92 million, or $0.72 per diluted share, versus $90 million, or $0.69 per diluted share, in 2011’s second quarter.