You can't buy very much at Tiffany for $100. But that's about what you'd pay this morning for a share of the company's stock--and that might be a good idea. The truly legendary New York jewelry retailer--with its instantly recognizable little blue boxes, traditional roots and Paloma Picasso's funky designs--announced it beat expectations for the second straight quarter as sales keep rising.
Always an engagement ring go-to spot, Tiffany has also succeed with its lower-priced entries--especially its Atlas Collection. Customers can purchase a little piece of this great brand for less than $500 by choosing chic jewelry from Atlas, and the blue box is free. Sales rose 8% in the quarter ending in July. Tiffany has an interesting situation: its American stores account for over half its business, but foreign tourists flock to its American stores--especially the New York Fifth Avenue flagship--so its reach is global even from home. Tiffany customers may be its best marketers.
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