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Tiffany Q3 profit jumps 63%, lowers Q4 outlook
New York City -- Tiffany & Co. reported Tuesday that profit for the quarter ended Oct. 31 surged 63% to $89.7 million, compared with $55.1 million in the year-ago period. Strong global sales propelled the strong performance, but the jeweler cautioned that fourth quarter earnings, which include the key holiday selling season, could fall below expectations.
Revenue rose 21% to $821.8 million from $681.7 million a year ago, handily beating Wall Street’s expected $801.8 million in revenue.
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Dick's to build new Arizona DC to support Western growth
Pittsburgh -- Dick's Sporting Goods said Tuesday that it will build a new distribution center in Goodyear, Ariz., that will service the western United States. The new DC, which is expected to bring approximately 120 jobs to the area, is slated to open in early 2013.
The distribution center will be designed to ultimately support approximately 160 stores as Dick's Sporting Goods grows its store base in the western United States over the next five to 10 years and is eventually expected to employ up to 300 associates.