Friday, August 26, 2011

Economy: In Consumers We Trust IX

Do you believe in a new global recession? Then you might take a look on Tiffany´s. The luxury retailer reported today that its profit jumped 33 percent in the second quarter, more than the analysts have predicted.

Yahoo Finance writes: "The best performance was in the Asia-Pacific region, where sales surged 55 percent to $173.2 million. Sales in Europe rose 32 percent, while sales in the Americas gained 25 percent. Even Japan, which is still regaining its footing following an earthquake and nuclear scare earlier this year, posted a 21 percent sales increase" ( ).

The New Yorkers also gave an encouraging outlook and lifted their guidance (the profit they expect) for the whole year.

These numbers fit well to the strong reports other up-market consumer companies, like Starbucks or Victoria`s Secret, gave in recent days. At least the well-off are still in buying mode and keep the motor of the global economy running.

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