NEW YORK, United States — JEWELLRY seller Tiffany & Co said yesterday its fiscal third-quarter profit rose 63 per cent on strong sales globally, particularly in Asia.

The luxury retailer known for its iconic turquoise box is also raising its full-year forecast on the strong quarter.

Tiffany’s results show the luxury shopper is continuing to spend freely. That segment has rebounded more quickly from the recession than others. High-end jewellry sold better than other categories.

The New York company’s net income rose to US$89.7 million or 70 cents per share in the three months ended October 31. That compares with US$55.1 million, or 43 cents per share, a year ago. Analysts expected earnings of 60 cents per share, according to FactSet.

Revenue rose 21 per cent to US$821.8 million. Analysts expected US$801.8 million.

“Increased sales in all regions contributed to the continuation of strong worldwide sales growth in the third quarter,” said CEO Michael Kowalski.

In the Americas, sales grew 17 per cent to US$387.7 million. Revenue in stores open at least one year rose 16 per cent.

The measure is considered a key gauge of a retailer’s financial health because it excludes stores that open or close during the year.

Tourists helped push the measure up 30 per cent at Tiffany’s New York flagship store.

In Asia-Pacific, revenue rose 44 per cent to US$183.2 million, helped by strength in the greater China region.

Revenue rose 12 per cent in Japan and 19 per cent in Europe.

Tiffany now expects net income of US$3.70 to US$3.89 per share, for prior guidance of US$3.65 to US$3.75 per share. Analysts expect US$3.72 per share.

Tiffany expects revenue to rise in the high-teens percentage for the year.

In the fourth quarter, the company expects net income of US$1.48 to US$1.58 per share. Analysts expect US$1.63 per share.

Tiffany operates 243 stores globally.