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Profit at Tiffany on Sales in Asia and Europe
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April 21st, 2009Maintenance TiffanyThe jewelry retailer Tiffany said Thursday its quarterly profit doubled, beating Wall Street expectations as sales rose by more than 10 percent in Asia and Europe.
Tiffany said it earned $80.8 million, or 63 cents a share, in the period, up from $40.5 million, or 29 cents a share, a year earlier.
Revenue in the period, which ended July 31 and was the second quarter of Tiffany’s fiscal year, rose 11 percent, to $732.4 million from $662.6 million.
Stock in Tiffany, which is based in New York, rose $4.24, or 11 percent, to $43.85 a share.
