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Tiffany net up 29%
New York City -- Tiffany & Co. said fourth-quarter earnings rose 29% as net sales jumped 12% to $1.1 billion. The company earned $181.2 million in the quarter compared with $140.4 million in the year-ago period. The latest quarter includes from the pending relocation of Tiffany's New York headquarters staff.
For the full year, worldwide net sales increased 14% to $3.1 billion. Net earnings from continuing operations rose 39% to $368.4 million.
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American Apparel delays 2010 filing
New York City -- American Apparel, which has yet to disclose certified financial results for 2009, has now delayed the filing of its 2010 annual report because it needs time to complete “reviews and analyses” of reports for both years.
The troubled retailer, whose founder and CEO Dov Charney was recently accused in a $260 million suit of using a former employee as a sex slave, did admit it expects to register losses for 2010, according to a filing with the Securities and Exchange Commission.