Expand into the suburbs and entice first-time buyers with ads showing affordable jewelry: It’s a formula that helped Tiffany & Co. hit an earnings home run in 1996 Hundreds, possibly thousands, of people in Palo Alto, Cal., will enter a Tiffany & Co. store for the first time this month. Once they’re in, many will leave with a purchase cushioned in the famous blue package and become regular customers. Sure, it sounds simple. Almost too simple. But the 160-year-old retailing legend says placing stores in upscale suburban surroundings fueled Tiffany’s record-breaking sales in 1996. Last year, sales increased 15% while earnings skyrocketed 49% over 1995’s numbers. The company also credited other recent tactics for its sales and earnings success, including an advertising strategy to show first-time customers that Tiffany quality is attainable. Tiffany operates more than