Asians Are Crazy About Tiffany's

Audrey hepburn breakfast at tiffanyIMDBBreakfast At Tiffany’s

Luxury jeweler Tiffany & Co. is up 7.7% to $US87.20, after
the company beat Q3 revenue estimatesand raised its 2013 profit outlook.

The company reported Q3 earnings of $US0.73 per diluted share, on revenue of $US911 million.

This beat expectations for $US0.58 per share on revenue of $US890 million.

Sales were boosted by strong performance in Asia and the U.S.

Comparable store sales in the Asia-Pacific region were up 22% in the third quarter and 15% year-to-date.

Total sales were up 27% to $US238 million in Q3, and 20% year-to-date, to $US670 million.

In the Americas, comp-store sales were up 1% in Q3 and Ytd in its flagship New York stores. Total sales were up 4% to $US417 million, and up 4% year-to-date to $US1.3 billion.

The company also raised its guidance and now expected full-year earnings in the range of $US3.65-$3.75 per diluted share, from $US3.50-$3.60 per diluted share in its previous outlook.

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