Tiffany Q1 Sales Up 20%, Profits Up 26%

Tiffany & Co. on Thursday reported that worldwide net sales increased 20 percent to $761 million while net earnings rose 26 percent to $81.1 million due to sales growth and improved margins. Management increased its earnings forecast for fiscal 2011 based on this higher than expected performance.“We are pleased with the very strong start to the year,” Michael J. Kowalski, Tiffany chairman and