Tiffany & Co. announced today that their net sales were higher than expected at $598 million and their net earnings from continuing operations of $0.34 per diluted share in its third quarter that ended October 31, 2009. The third quarter net sales were 3% lower than the previous year. On a constant-exchange-rate basis, which excludes the effect of translating foreign-currency-denominated sales into U.S. dollars, worldwide net sales declined 5% and comparable store sales declined 6%.
Michael J. Kowalski, chairman and chief executive officer, said, “We were pleased to see that the rate of sales declines in the
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Tiffany & Co. operates jewelry stores and manufactures products through its subsidiary corporations. Its principal subsidiary is Tiffany and Company. The Company operates TIFFANY & CO. retail stores and boutiques in the
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