Summary Box: Tiffany sparkles in 2nd quarter

AP News
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Posted: Aug 26, 2011 11:35 AM
Summary Box: Tiffany sparkles in 2nd quarter

THE PERFORMANCE: Luxury jewelry company Tiffany & Co. reported second-quarter adjusted earnings of 86 cents per share on revenue of $872.7 million. That beat Street estimates for earnings of 70 cents per share on revenue of $785.6 million.

THE BREAKDOWN: Sales in all categories _ including high-end, engagement and gold jewelry _ rose in the double-digits.

TIME TO SHINE: Tiffany is confident in its prospects for the rest of 2011. The New York company raised its full-year earnings forecast to a range of $3.65 to $3.75 per share. Its prior range of $3.45 to $3.55 per share was boosted in May from $3.35 to $3.45 per share. Analysts expect $3.55 per share.