Tiffany & Co. posted both bottom and top line gains for the third quarter.
The jeweler’s net income rose 5 percent to $100 million, or 80 cents a diluted share, from $95 million, or 76 cents, a year earlier.
Sales increased 3 percent to $976 million, although comparable-store sales slipped 1 percent. Comps were flat on a constant currency basis.
Alessandro Bogliolo, who joined Tiffany as chief executive officer last month, said: “These latest financial results marginally exceeded our expectations, but I believe that Tiffany has the medium- to long-term potential to achieve meaningful comparable-store sales growth and drive higher operating margins and earnings growth. Looking forward, we will increasingly capitalize on the strength of the Tiffany & Co. brand with stronger organizational focus on innovation in product, digital, communication and the customer experience.”