Tiffany says fourth-quarter net income edged up less than 1 percent, but still beat Wall Street predictions as strong customer demand in Asia for its pricey baubles offset weakness in the U.S.
The upscale jewelry company also offered an annual sales outlook that topped analysts’ estimates, and its shares rose nearly 2 percent Friday.
The results, which include the critical holiday season, show Tiffany’s resilience even as it faces challenges in the U.S. and a fiscal crisis in Europe.
For the quarter ended Jan. 31, Tiffany earned $179.6 million, or $1.40 per share. Revenue rose 4 percent to $1.24 billion. Analysts polled by FactSet expected earnings of $1.36 per share on $1.25 billion in revenue.
News Tribune news services
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