Sales Up For Tiffany

Jeweler Tiffany & Co. saw second-quarter sales rise and net income fall. For the 13 weeks ended July 31, the New York-based cataloger/retailer reported net income of $37 million on sales of $662.5 million. For the second quarter of last year, it had netted $41.1 million on sales of $554.6 million. Sales within the direct marketing unit rose 12%, to $40.1 million. U.S. retail sales increased 20%, to $345.3 million. International retail sales also rose 16%, to $259.0 million. Same-store sales increased 17% in the U.S. and 7% internationally.

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