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Tiffany & Co. sales grow in first half

9/2/2006 3:55:33 PM

AUGUST 31, 2006 - New York -- Same-store sales at Tiffany & Co. grew 5 percent worldwide in the first half of 2006, for the six-month financial period ending July 31.

Same-store sales at the 60 U.S. Tiffany stores increased 2 percent in the first half of the year, with sales in the New York flagship store slipping 1 percent, and branch store sales rising 2 percent.

For the second quarter alone, same-store sales increased 5 percent, including a 5 percent increase in the flagship store and a 4 percent boost in branch stores.

Total net sales of $1.1 billion for the first half of the year were 7 percent higher than last year's first half sales of about $1 billion.Total U.S. sales grew 8 percent to $288.6 million for the first half of the year.

Direct marketing sales increased 11 percent for the first half of the year to $65.7 million, and 18 percent in the second quarter to $35.7 million.

Sales at the company's other retail stores, including Little Switzerland and Iridesse, increased 4 percent to nearly $27.5 million.

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