Tiffany posts first-quarter gains

Jewelry retailer Tiffany & Co. increased its first quarter earnings guidance, citing improving U.S. same-store sales and higher profit margins, Dow Jones reported.

The company expects first quarter earnings of 22 cents a share, up from the previously expected 16 cents to 17 cents a share, the Dow Jones reported.

In the year-ago first quarter, Tiffany earned 20 cents a share.

The company expects first quarter sales to increase 3% to 4% from year-earlier revenue of $336 million.

In an April 25 press release, Tiffany said its guidance for the remainder of the year remains unchanged.