Announcing their fiscal fourth quarter earnings, Tiffany & Co. has reported a higher profit, which was lower than Wall Street’s predictions.Tiffany’s sales increased across all product categories and price points in the fourth quarter. Other big news is that the company has revealed plans for further expansion in 2010, including opening 17 stores. You can read more at The Wall Street Journal and Business Week.
After some hard luck last year (closing its Japanese stores, axing a quarter of its workers, etc), Versace believes it is on the right track to become profitable in 2010.
Versace’s CEO, Gian Giacomo Ferraris, said the brand has had a strong start to the year and he sees sales rising (between 7 and 10 percent) this year, if markets continue to recover.
He also said the fashion house had pre-sold nearly all of its next winter/autumn collection to wholesalers. Click here to read more at Reuters.
Image credit: uk.tiffany.com
