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Tiffany Enjoys Holiday Cheer

Wednesday, 29 Nov 2006 | 11:46 AM ET

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.


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