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Upmarket jeweller Tiffany & Co. said net sales in the second quarter (ending end July 2008) increased 11.0 % to USD $ 732.4 million from USD $ 662.6 million during the same period a year ago. The demand was driven by strong growth in the Middle East, Asia and Europe. In H1-2008, the jeweller’s net sales also rose 11.0 % to USD $ 1.40 billion and net profit grew by 54.0 % to USD $ 145.16 million.
“Whilst we acknowledge the challenging economic and consumer conditions, we are on track to meet our full year sales and earnings growth expectations,” said Tiffany Chairman & CEO, Michael Kowalski.