Diamonds might be a girl’s best friend, but in the second quarter they were Tiffany & Co.’s, too, as the luxury jewelry retailer’s profits soared 99.6 percent.
Tiffany’s increasingly global footprint, demonstrated by strong diamond sales in Asia and Europe, helped the company best Wall Street’s estimates and raise its full-year guidance. The results lifted the firm’s stock $4.24, or 10.7 percent, to $43.85 in New York Stock Exchange trading.
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