Tiffany raises profit outlook; Asia fuels quarterly sales
Credit: Reuters/Toru Hanai
A woman walks past Tiffany Building at Tokyo's Ginza shopping district October 1, 2013.
Global sales rose 7 percent to $911.5 million in the third quarter ended October 31. Analysts on average were expecting $889.5 million, according to Thomson Reuters I/B/E/S. Comparable sales rose 7 percent.
Tiffany reported net income of $94.6 million, or 73 cents per share, compared with $63.2 million, or 49 cents per share, a year earlier.
The company raised its full-year profit forecast by 15 cents per share to a range of $3.65 to $3.75.
Tiffany still expects net sales worldwide to increase by a mid-single-digit percentage rate for the fiscal year.
(Reporting by Phil Wahba in New York; Editing by Lisa Von Ahn)
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