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Tiffany’s financial reports exceed expectations

US-based jeweller Tiffany reported this week double-digit sales and earnings growth for the year ended 31 January 2012 (fiscal 2011). Net sales rose 18 percent to USD3.6 billion and net earnings rose 19 percent to USD439 million, or USD3.40 per diluted share.

Net earnings increased 24 percent excluding nonrecurring items and earnings per diluted share rose 23 percent to USD3.60.