Tiffany operating earnings rose approximately 25%Christian Fernsby ▼ | October 15, 2020
Tiffany reported that its net sales for the two month period declined slightly from a year ago.
Tiffany Sales in the United States declined by a low double digit percentage
Operating earnings, inclusive of transaction related expenses, rose approximately 25% year on year.
For the fourth quarter, Tiffany currently expects a mid single digit percentage decline in sales and a mid-single digit percentage increase in operating earnings.
Tiffany's cash balance continued to be in excess of $1 billion at September 30 and is expected to be approximately $900 million year end. ■