Shares of Tiffany & Co. rose after net income spiked 50 percent in the first quarter as worldwide sales jumped by double digits and the jeweler boosted prices. Results beat estimates and Tiffany raised its guidance for the year. “This is an excellent and encouraging start to the year,” said CEO Michael Kowalski. Tiffany said net income rose to $125.6 million, or 97 cents per share, easily topping $83.6 million, or 65 cents, last year. Revenue rose 13 percent to $1.01 billion.
Jeweler shines on surging global sales
