Tiffany and Co. (TIF)

[MiamiGent]

BY Dow Jones & Company, Inc.
— 2:10 PM ET 01/10/2012


..........Nonetheless, Tiffany still has its fans. "Despite near-term headwinds in the U.S. and Europe, given its leadership in high-end jewelry retailing and growing global brand awareness and market penetration, we think Tiffany remains an attractive long-term investment," said Jason Asaeda, equity analyst with S&P Capital IQ.

For the two months ended Dec. 31, Tiffany reported world-wide net sales rose 7% to $952 million as same-store sales rose 4%. Sales in the Americas region-- which includes the U.S., Canada and Latin America--rose 4% to $503 million. The company noted higher sales to tourists from outside the U.S. helped to offset weaker spending by U.S. customers.

In Europe, meanwhile, sales edged up 1% to $117 million. Same-store comparable sales declined 4%, reflecting modest sales growth in continental Europe and lower sales in the U.K.

Sales in some regions abroad were stronger, however, with sales in the Asia- Pacific region up 19% to $165 million. Same-store sales climbed 12%, an increase the company said was due to growth in most countries. A strong push into international markets has helped Tiffany post double-digit profit growth in each quarter this year..........