Tiffany catapults to all-time high as sales blow away estimates

TIFFANY & CO. reported a $142 million profit in the first quarter on a $1 billion revenue. The company's board also approved a $1 billion share repurchase program. / BLOOMBERG FILE PHOTO/PATRICK T. FALLON
TIFFANY & CO. reported a $142 million profit in the first quarter on a $1 billion revenue. The company's board also approved a $1 billion share repurchase program. / BLOOMBERG FILE PHOTO/PATRICK T. FALLON
NEW YORK - Tiffany & Co.’s revamp is starting to pay off handsomely. Investors cheered Wednesday as the jeweler posted strong sales growth, raised its profit forecast for the year and announced a share buyback plan of $1 billion. Worldwide same-store sales, a key retail metric, blew away analysts’ estimates in the first quarter, led…
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