Tiffany & Co. saw increases of 18 percent in net sales and 26 percent in net earnings in its second quarter ended July 31, the New York company said yesterday.
In the quarter, net sales were $442.5 million, up from $374.43 million in the previous year. Net earnings were $41.15 million, up from $32.71 million.
For the six months ended July 31, net sales rose 16 percent to $838.33 million. Net earnings increased 18 percent to $77.01 million.
Direct marketing sales increased 13 percent to $43.94 million in the quarter and 12 percent to $81.23 million in the first half. Combined Internet/catalog sales rose 21 percent for both the quarter and the half on continued strength in e-commerce sales, the company said.
In other news, Too Inc., New Albany, OH, said that net sales for the second quarter totaled $134.8 million, down from $141.2 million posted in the 2002 period. The company's Limited Too sells apparel, swimwear, sleepwear, underwear, footwear, lifestyle and personal-care products for girls ages 7-14. Limited Too publishes a catalog and also sells through its Web site, www.limitedtoo.com.