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Tiffany sales rise as lower-priced jewelry attracts U.S. customers

[May 21, 2014]  (Reuters) — Tiffany & Co reported a 13 percent rise in quarterly sales as the company's increasing focus on lower-priced jewelry attracted customers in the United States, its biggest market.

Net profit rose to $125.6 million, or 97 cents per share, in the first quarter ended April 30 from $83.6 million, or 65 cents per share, a year earlier.

Total net sales rose to $1 billion from $895.5 million.

Sales in the Americas rose 8 percent to $439 million.

(Reporting by Devika Krishna Kumar in Bangalore; Editing by Kirti Pandey)

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