Tiffany & Co. results beat Wall Street expectations

Tiffany & Co. says its first-quarter net income rose 3 per cent as sales improved across all regions. The results beat Wall Street expectations, and its shares rose 6 per cent in premarket trading. Tiffany is a barometer of luxury spending so the latest results show the resilience among affluent shoppers despite economic challenges around the globe. The high-end jewellery company known for its blue boxes earned $83.6 million, or 65 cents per share, for the period ended April 30. That’s up from $81.5 million, or 64 cents per share, a year ago. Sales increased 9 percent globally to $895 million.