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Tiffany Sales Up 11% in 2006.
Tiffany and Co. same-store sales increased 6 percent and net sales increased 11 percent to $2.6 billion for fiscal year 2006, ended Jan. 31, the company announced today.
The company attributed the positive results to strong growth in both the United States and international markets.
Earnings from operations increased 9 percent, and net earnings were $1.80 per diluted share for the year.
In the fourth quarter, net sales increased 15 percent to $986 million. At constant exchange rates, net sales increased 14 percent for the quarter and same-store sales increased 8 percent.
Net earnings for the quarter reached $140 million, about the same as in 2005. Net earnings per diluted share increased to $1.02 from $0.97, due to fewer outstanding shares.
U.S. sales increased 13 percent to $506 million in the fourth quarter and 9 percent to $1.3 billion for the year. Tiffany attributed the hike to augmented spending per transaction and an increase in total store transactions.
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