Tiffany& Co. Still Looks Attractive; Barron’s (TIF)

The luxury jewelry retailer Tiffany & Co. TIF reported excellent first-quarter results prior to the opening bell on Thursday. Profits increased from $0.20 per share reported for the same period last year to $0.50 per share in the first-quarter. Analysts had expected the company to earn $0.37 per share. Sales also unexpectedly rose 22% to $633 million. Same-store sales rose 10%, with expanded gross margins, for a second-consecutive quarter, from 55.9% to 57.8%. The company also raised its full-year guidance to $2.55 to $2.60 a share from $2.45 to $2.50. Barron’s, which has been bullish on Tiffany in the past, says that despite the gains made by the stock since late last year, it still looks attractive.