May 23 (Reuters) - Tiffany & Co reported better-than-expected first quarter comparable store sales on Wednesday, boosted by strong demand for its high-end silver and gold fashion jewelry in America.
Tiffany’s same-store sales, on a constant currency basis, rose 7 percent, while analysts on average were expecting a rise of 2.7 percent, according to Thomson Reuters I/B/E/S.
The company’s net income rose to $142.3 million, or $1.14 per share, in the quarter ended April 30, from $92.9 million, or 74 cents per share, a year earlier.
The company also announced a new $1 billion share repurchase program.
Reporting by Vibhuti Sharma in Bengaluru; Editing by Arun Koyyur