Tiffany reported a quarterly profit decrease by 5.3%


Following the results of the third fiscal quarter ended October 31, Tiffany, the American retail jewelry chain, reported a decline in net profit by 5.3% in annual terms to 94,900,000 dollars. Nevertheless, revenue during the earnings period showed an increase in all regions and most product categories. Its quarterly figure was 1 billion 12 million dollars, having increased over the year by 3.7%. Experts had expected growth to 1 billion 50 million dollars. The growth of comparable sales in the world market in stores that have been operating for at least a year was 2%. The company also reported the results of work in 9 months of the fiscal year. During this period, its net profit showed an increase of 24% in annual terms, and the number of stores increased by 6 units to 315.

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