For those poor souls worried about high-end consumers, take a deep breath and relax. Tiffany & Co. reported better-than-expected earnings this quarter, with profits of $106.8 million, up from $91.8 million in the same quarter last year.
The growth in revenue and profits came on a staggering 20 percent increase in sales in the Asia-Pacific region. Sales also rose 11 percent in Europe and 2 percent in the Americas.
Things may only get better, as its strategy of high-fashion designs, like its recent Gatsby-related line, has seen success, and it is opening its first department store in oligarch-heavy Moscow.
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