Tiffany & Co. Profit Almost Doubles

New York City Tiffany & Co. posted a higher quarterly profit on Thursday, benefiting from strong international sales and solid tourist spending at its New York flagship store.

The company said it earned $80.8 million in the three-month period ended July 3, compared with $40.5 million in the year-ago period.

Meanwhile, revenue rose 11% to $732.4 million from $662.6 million in the year-ago period.

Same-store sales declined 1%.