Tiffany & Co. revenue raised by 5.3% to $959M in the third quarter

Tiffany & Co. posted a rise in revenue in the third quarter that ended on October 31 that came in below analysts' expectation – up 5.3 percent on the year to $959.6 million. Analysts had been looking for revenue of $970 million. Net profit in the quarter slumped almost 60 percent to $38.3 million from $95 million a year before. On a bright note, same-store sales, a critical indicator for the retail sector, climbed 4 percent.  Sales in the Americas increased by 10 percent to $459 million in the period, with same-store sales 11 percent higher. Meanwhile, in the Asia-Pacific region, Tiffany & Co. sales edged up just 2 percent to $243 million and same-store sales declined by 3 percent.