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Tiffany produces gleaming results in Q1
New York – Tiffany & Co. grew net earnings 50% in a successful first quarter of fiscal 2014. Net earnings increased 50% to $126 million, up from $84 million in the same period a year earlier, aided by the elimination of pre-tax charges relating to staff and occupancy reduction.
Worldwide net sales grew 13% to $1.01 billion, from $895.48 million. Worldwide same-store sales rose 11% due to growth in most regions.
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Hhgregg swings to loss in Q4
Indianapolis – Hhgregg Inc. swung to a net loss of $7.2 billion in the fourth quarter of fiscal 2014, compared to net income of $9.9 million in the same period the prior fiscal year. Net sales dropped 10% to $538.3 million, from $597.6 million.
A same-store sales decline of 10% affected both net income and sales, and charges related to Hhgregg’s planned exit from the mobile phone business also helped drive its net loss.