Tiffany chairman and CEO Michael J. Kowalsk said the company enjoyed “an excellent and encouraging start to the year.”
The company grew net earnings 50% in the first quarter. Net earnings increased 50% to $126 million, up from $84 million in the same period a year earlier, aided by the elimination of pre-tax charges relating to staff and occupancy reduction.
Worldwide net sales grew 13% to $1.01 billion, from $895.48 million. Worldwide same-store sales rose 11% due to growth in most regions.