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7 juin 2011 2 07 /06 /juin /2011 07:45

These relocation expenses are associated with the acceleration of depreciation of property Tiffany Paloma's Twist necklace equipment and incremental rents during this transition period until the move occurs in spring 2011 (see "Non-GAAP Measures" schedule). In the prior year, the Company recorded a charge of Tiffany 1837 million, or $0.03 per diluted share after tax, in the third quarter related to a diamond sourcing agreement, and recorded a $4.4 million gain, or $0.02 per diluted share after tax, in the second quarter related to a loan recovery. Excluding nonrecurring items in both years, SG&A expenses rose 15% in the third quarter and 12% in the year-to-date. Interest and other expenses, net were $13.0 million in the third quarter and Tiffany Paloma's X earrings million in the year-to-date, compared with $11.3 million and $35.9 million in the respective prior-year periods.In both periods, there were increased wholesale sales of finished goods to independent distributors within emerging markets; Tiffany Paloma's X Earrings and Necklace Set sales of rough diamonds increased in the year-to-date.

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