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

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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, finversia.ru 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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