Retailer News

TIFFANY EARNINGS RISE 55% Tiffany & Co.'s net earnings rose substantially in the second quarter of 1996, thanks to a 10% increase in worldwide sales and improved operating margins. For the three months ended July 1, net earnings totaled $8.3 million on sales of $202.8 million, up 55% and 10%, respectively. For the six months, net earnings totaled $13.3 million on sales of $383.5 million, up 78% and 15%, respectively. All earnings-per-share figures were adjusted for a two-for-one split in the company's common stock in July 1996. The breakdown for Tiffany's three channels of distribution follows: U.S. retail sales rose 13% to $92.5 million in the quarter and 20% to $172.9 million in the first half. Comparable-store sales rose 6% in the quarter and 12% in the first half. Direct marketing sales grew 9% to $22.1 million in the quarter and $412 milli

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