Known or their trademark turquoise boxes, Tiffany & Co reported today that worldwide sales rose almost 20% in its fourth quarter. The company is attributing the rise to broad-based growth in the Americas, Asia-Pacific, and European regions. Chairman and CEO Michael J. Kowalski stated, ”We were very pleased with the sales results in the fourth quarter which reflected growth in most countries, product categories and price points. Notwithstanding the global economic challenges over the past year, the decisive measures we took to control spending were successful.”
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Isn’t all the good news already priced into the stock ? And they sure expect revenue to rise by 11%.
They truly begun the year with worldwide sales growth exceeding first-quarter plan which calls for a high-teens percentage increase.