Tiffany Enjoys Holiday Cheer
Fine jeweler Tiffany is seeing green, thanks to strong early holiday sales.
Riding the luxury market wave and benefiting from high-end consumer strength, Tiffany is seeing “a lot of demand amongst the affluent consumer and a willingness to shop,” Dorothy Lakner, retail analyst at CIBC World Markets, told CNBC’s “Morning Call”.
With profit up nearly 23%, to nearly $30 million in the third-quarter, the company increased its full-year guidance. The company known for those little blue boxes also handily beat Wall Street earnings expectations.
Tiffany plans to open a second New York City store next year. Way to spend a bonus.