Tiffany’s sales growth prospects sparkle

Tiffany & Co, the luxury jewellery retailer, forecast strong growth in sales and profits in 2012 as it rebounded from a weaker-than-expected holiday season last year.

The US retailer’s shares jumped almost 7 per cent to $73.45 by midday in New York as it predicted sales growth of 10 per cent to $4bn from February to the end of January 2013. Earnings per share are expected to rise from 16 per cent to 19 per cent.

The forecasts were a positive signal for the luxury sector as Tiffany tends to reflect broader spending trends and its weak holiday season had sparked concern that economic uncertainty was triggering a slowdown in luxury sales.

Read Full Article from Financial Times

- Posted: 2012-03-20 14:10:22

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