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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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The engagement advantage and holiday sales results
By Jackie Sloane
Earlier than ever opening hours over the holiday weekend placed unprecedented demands on store associates. Whether full time workers or among the hundreds of thousands of seasonal employees whose services are required to cope with the peak demands of the holidays, one thing is clear. Energy and attitude can amount to retailers’ “engagement advantage,” arguably the most crucial differentiating factor when it comes to influencing purchase decisions, sales and long-term loyalty.