News about en-us Why do our politicians have to be so weird?  You can tell a lot about a person by the jewelry that they wear and by the things that they carry around in their pockets, and Barack Obama's "lucky charms" include a Hindu god, a Masonic emblem and a "wedding ring" that has the phrase "there [...]

]]> Diwali, Dollars and Gold originally appeared in the Daily Reckoning. The Daily Reckoning, offers a uniquely refreshing, perspective on the global economy, investing, gold, stocks and today's markets. Its been called "the most entertaining read of the day."

]]> China is Gold’s Future originally appeared in the Daily Reckoning. The Daily Reckoning, offers a uniquely refreshing, perspective on the global economy, investing, gold, stocks and today's markets. Its been called "the most entertaining read of the day." Check out our new special report Invest in Agriculture

]]> Don’t Mail in Your Gold originally appeared in the Daily Reckoning. The Daily Reckoning, offers a uniquely refreshing, perspective on the global economy, investing, gold, stocks and today's markets. Its been called "the most entertaining read of the day."

]]> With shoppers loosening their purse strings for luxury items, such as jewelry, this holiday season, the high-end retailers – Tiffany & Company (TIF) and Signet Jewelers Limited (SIG) witnessed rising sales. The companies have been grappling with the recession as consumers have cut down on their discretionary spending in the wake of a faltering economy and focused more on necessities. 

The stronger-than-expected holiday sales, and the signs of recovery in the ailing luxury sector, have prompted the New York based company, Tiffany, to raise its full year targets. 

Tiffany now expects fiscal year 2009 earnings between $2.07 and $2.12 per share, up from $1.88 to $1.98 projected earlier. The company said it remains on track to achieve the net sales of approximately $2.7 billion. The company registered growth across the entire range of jewelry and price. 

Total net sales surged 17% to $799.1 million in the holiday season (November and December) ended Dec 31, 2009. Excluding the foreign currency translation, net sales and comparable-store sales climbed 13% and 8%, respectively. 

Tiffany noticed sales growth across all three geographic segments. In the Americas, sales jumped 15% to $443.9 million, whereas comparable U.S. store sales grew 12% (16% in November and 10% in December) driven by increased transaction counts. 

Tiffany holds a significant position in the world jewelry market due to its distinctive brand appeal. On the international side, there is significant growth opportunity in Asia (excluding Japan) as well as Europe. 

In the Asia-Pacific region, sales rose 11% to $240.8 million. In constant currency, net sales increased 4%, whereas comparable-store sales climbed marginally by 1% including a 12% drop witnessed in Japan and a 26% jump across the rest of the region. 

Sales in Europe soared 30% to $103.0 million. In constant currency, net sales jumped 19%, whereas comparable-store sales climbed 16%. 

Other sales rose to $11.5 million from $3.4 million delivered in the same period last year, reflecting a surge in wholesale sales of rough diamonds. 

Tiffany operated 220 stores and boutiques at the end of Dec 31, 2009 – 91 in the Americas, 102 in Asia-Pacific and 27 in Europe. 

Tiffany is well positioned to deliver robust sales and earnings growth by leveraging capital investments made in the past several years. The company is poised to benefit from its enhanced geographic reach.
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