Considering the disastrous impact that the recession has had on many families along with a general slowdown in consumer spending across the board, it is hardly difficult to guess that the luxuries market has seen better days, but there may still be some hope. Legendary luxury retailer Tiffany & Company has posted a profit decline in the second quarter, but the company managed to beat analyst expectations.
 
New-York based Tiffany posted profits of $56.8 million this quarter, marking a 30 percent decline in profits from the same time last year when the company posted net earnings of $80.8 million. Sales have …read more

Although it may come as no surprise to many people still struggling due to the economic situation, the demand for luxury goods continues to shrink. The iconic jewelry retailer has posted a dramatic drop in fiscal first-quarter earnings, which plunged 64 percent. Tiffany has blamed this drop in earnings on shrinking sales of the highest-prices goods.
The good news for Tiffany & Co. is that the decline in sales seems to be tapering off for the most part, except for the lack of interest in their high-end jewelry. Although sales are picking up comparatively quickly for Tiffany overseas, its American operations …read more

Tiffany & Co. surprised the markets today with news of a sparkling second quarter.  The jeweler boasted an 11 rise in sales and the near doubling of profits.
Tiffany acknowledged that domestic sales are sluggish but expects a rebound in the fourth quarter.  International sales remained strong in Europe and parts of Asia.
Although analysts concur Tiffany’s pricey product line appeals to a more recession-proof set of shoppers, some expressed doubt regarding the company’s optimistic outlook for the holiday season.
But, investors dubbed Tiffany king (or queen) of bling for the day as the stock closed 11 percent higher.