Jewelry retailer Tiffany says second-quarter profit doubled, beating Wall Street expectations as sales rose by double-digit percentages in Asia and Europe.
The New York-based Tiffany & Co. (TIF)said Thursday it earned $80.8 million, or 63 cents per share, in the three-month period ended July 31. That compares with $40.5 million, or 29 cents per share, in the year-ago period.
Revenue rose 11% to $732.4 million from $662.6 million in the year-ago period.
Analysts surveyed by Thomson Reuters expected profit of 55 cents per share on revenue of $721 million. Those estimates typically exclude one-time items.
The company also raised its outlook for earnings in 2008.
