Tiffany's Sales Blow Away Estimates, Sending Shares Soaring

Tiffany’s Sales Blow Away Estimates, Sending Shares Soaring

Tiffany & Co.’s revamp is beginning to repay handsomely.

On Wednesday, the jeweler posted strong quarterly sales growth, raised its revenue forecast for the 12 months and introduced a share buyback plan of $1 billion. Worldwide same-store gross sales, a key retail metric, blew away analysts’ estimates within the first quarter, led by good points in North America and Asia.

The shares jumped 15 p.c to $117.80 in early buying and selling.

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