Holiday Sales Boost Tiffany’s Earnings 59%

Tiffany & Co.’s fiscal fourth-quarter earnings rose 59% as shoppers grabbed up lots of jewelry, china and crystal at its stores during the holiday season. The New York-based company earned $84.58 million, or $1.11 a share, for the quarter ended Jan. 31, compared with $53.29 million, or 74 cents a share, a year ago. Sales were $559.8 million, up from $442.8 million a year ago. Tiffany’s results topped Wall Street analysts’ estimates. Shares rose $4.69 to close at $68.69 on the NYSE. . . . Discount apparel retailer TJX Cos. reported fiscal fourth-quarter earnings of $136.9 million, or 44 cents per diluted share, slightly ahead of expectations. The figures compared with a pro forma $136.3 million, or 41 cents a share, in the year-earlier quarter and beat by 1 cent analysts’ forecasts compiled by First Call/Thomson Financial. The company, which operates stores under the T.J. Maxx and Marshall’s brands, among others, said net sales for the quarter ended Jan. 29 rose 9% to $2.52 billion from $2.32 billion. Shares rose 56 cents to close at $16.50 on the NYSE.