Tiffany's net profit more than tripled in the fourth quarter


The second largest jewelry retail chain in the world, the American company Tiffany, following the results of the fourth financial quarter, which ended in late January, reported on a significant jump in net profit due to the US tax reform, writes. The annual rate increased 3.3 times, reaching 204.5 million dollars. Earnings per share in the amount of 1 dollar 67 cents exceeded the forecast of experts, who had predicted the amount of 1 dollar 60 cents. At the same time, revenue of 1 billion 320 million euros showed an annual decline of 1%. Economists had predicted a figure of 1, 33030 thousand dollars. The company's message indicates a decrease in demand for jewelry in most regions. Tiffani recorded a 2% drop in comparable sales. The results of the entire fiscal year showed net profit growth 1.6 times to 586 million dollars. The company noted a record annual profit of $4 billion 400 million, its growth was 7%. Growth in comparable sales was at the level of 4%.

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