Tiffany's Sparkles

Tiffany & Co. (New York), the second-largest U.S. jewelry chain, announced that second quarter profits rose a better-than-expected 70 percent on higher sales in the U.S. and Japan. Net income rose to $39.2 million, or 26 cents a share, from $23 million, or 16 cents a year earlier. Sales for the quarter ended July 31 gained 21 percent to $372 million, from $307.1 million. Same-store sales rose 19 percent in the U.S. and 12 percent in local currency in Japan, Tiffany's largest overseas market.