Tiffany says holiday sales above forecast
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Luxury jeweler Tiffany & Co. Inc.  said on Wednesday quarterly profit rose 22 percent, helped by the sale of investments, and said holiday season sales growth was above expectations so far.
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U.S. retailers' sales rose 3.6 percent in holiday shopping, at the lower end of expectations, helped by a late-season spending surge on some items, according to data released on Tuesday by SpendingPulse.
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Jeweller Tiffany posts a profit warning, amid fears that the cooling economy will hit high-end consumers.
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The iconic black dress worn by Audrey  Hepburn in the 1961 film "Breakfast at Tiffany's" sold for  410,000 pounds ($800,000) on Tuesday, around seven times its  pre-sale estimate.
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U.S. stock futures pointed to a slightly higher market open on Thursday as higher November sales from retailers including Target Corp. , and Limited Brands Inc.  boded well for the holiday shopping season.
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Dollar Tree Stores Inc.  reported higher quarterly profit on Wednesday, inching past Wall Street estimates, helped by strong demand for a variety of holiday items.
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Tiffanyâs weak holiday sales sent jitters through the luxury-goods industry, which had seemed invulnerable to the economic slowdown.
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J.C. Penney Co Inc.  said on Thursday its November sales at department stores open at least a year rose a less-than-expected 1.4 percent, but it stood by its earnings forecast for the fourth quarter.
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Upscale U.S. department store chain Nordstrom Inc.  on Wednesday reported sales at its stores open at least a year rose 9.3 percent during December, the big holiday shopping month.
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Federated Department Stores Inc. , parent of Macy's and Bloomingdale's, on Thursday reported a stronger-than-expected gain in November sales at stores open at least one fiscal year and raised its same-store sales forecast for December.
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U.S. shoppers are starting to get into  the holiday spirit, with indices on Tuesday showing sales  picking up with only 10 shopping days until Christmas.
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The iconic black dress worn by Audrey Hepburn in the 1961 film "Breakfast at Tiffany's" sold for 410,000 pounds on Tuesday, around seven times its pre-sale estimate.
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November sales data raised retailers&#39; spirits Monday, as the government reported better results than expected after the holiday season had so far been viewed with some disappointment.
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Luxury jeweler Tiffany & Co. reported a 15 percent rise in quarterly profit on Thursday, edging past Wall Street estimates, as higher-priced items pushed up sales in all of its markets except Japan.
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Many area retailers reported having a strong start to the holiday season as customers lined up early for after-Thanksgiving sales.
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Online sales of holiday stalwarts like jewelry, watches and flowers have dropped from last yearâs levels, while sales of more practical items like furniture and appliances have climbed.
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The outlook for the holiday season grew more positive Tuesday after major retailers, including Wal-Mart Stores Inc. and J.C. Penney Co. Inc., offered bullish comments about consumer spending as they reported solid earnings increases for the third quarter.