Tiffany profit beats estimates

Tiffany & Co Inc on May 31 posted a better-than-expected 8 percent rise in quarterly earnings on strong international sales and as the luxury jeweller raised prices on some items to help offset higher costs for precious metals and diamonds.
Net income for the fiscal first quarter, ended April 30, rose to $43.1 million, or 30 cents per share, from $40.1 million, or 27 cents per share, a year ago.
Net sales rose 6 percent to $539.2 million from $509.9 a year ago. Tiffany, based in New York, said US retail sales were disappointing, rising only 2 percent in the quarter, but noted the results were measured against a very strong year-ago period.