"While we have always said that Tiffany's business is not recession-proof, the increasingly global nature of our business is demonstrating the mitigating effect that it can have on an economic weakness in one particular region," said Mark Aaron, vice president of investor relations, in a call to Wall Street.Michael J. Kowalski, chairman and chief executive officer, said the company is pursuing expansion opportunities this ChronoSwiss Timemaster Automatic CS-9 and plans to open about 24 stores across the U.S., Asia-Pacific and Europe. The company also will introduce a new smaller store format in the U.S. later this year. Tiffany operated 192 units at the end of the first quarter.
Looking forward, Tiffany remains cautious and does not expect improvement in U.S. sales until later this year. The company said it remains on track to achieve full-year expectations, and raised full-year earnings ChronoSwiss TimeMaster Calendar CS-14 in the range of $2.80 to $2.90 a diluted share, from previous guidance of $2.75 to $2.85 a share. Sales are expected to be up 10 percent.Shares of the company increased 2.7 percent to close at $49.03 ChronoSwiss Timemaster for Lefthanders CS-8 Friday.Credit: By Jeanine PoggiTIF, the internationally renowned jeweler, today announced plans for a Fall 2008 opening of a store in Westfield London, a new retail and leisure complex due to open in White City, West London.
The approximately 2,800-square-foot store will feature a modern glass facade that showcases the store's welcoming and gracious interior with custom furnishings and brushed stainless steel showcases arrayed with exclusive TIFFANY & CO. collections. ChronoSwiss Wristmaster CS-7 them are the jeweler's exquisite diamonds in engagement rings; fine and sterling silver jewelry; the celebrated designs of Elsa Peretti, Paloma Picasso, Jean Schlumberger and Frank Gehry; watches; gifts and accessories. Customers may further peruse the collections in the comfort of an elegant private sales salon.
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