NEW YORK -- Tiffany & Co. reported earnings soared 80.9 percent in the first quarter, ended April 30, topping analysts' estimates by a wide margin.
The company earned $1.9 million, or 12 cents a share, against $1 million, or 7 cents. The Wall Street consensus for the quarter was 5 cents a share. Sales rose 19.8 percent, to $131.2 million from $109.5 million. U.S. retail volume increased 18 percent, to $57.2 million, and comparable-store sales jumped 16 percent, reflecting growth in the flagship here and in all American branch stores, the company said. Tiffany stock closed up 2 3/4, to 31 7/8 Monday on the New York Stock Exchange.
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