Jeweller Tiffany & Co continues to shine with Asia leading strong growth in sales in the second quarter.

Tiffany’s global net earnings rose 16 per cent to $124 million, due to a seven per cent increase in worldwide net sales to $993 million and a higher gross margin.

The jeweller said Asia Pacific sales increased 14 per cent to $237 million in the three months to July 31, due to strong growth in Greater China and Australia.

However, demand has softened in Japan, where sales declined 13 per cent to $119 million during the period.

Sales in America and Europe also increased by nine per cent to $484 million and eight per cent to $120 million, respectively.

Tiffany, with 293 stores as at July 31, has raised its net earnings forecast for the fiscal year ending January 31 from $4.15-$4.25 to $4.20-$4.30 per diluted share.

It will open 10 new company-operated stores in the remaining months: four in the Americas, two in Asia Pacific, two in Japan, and one each in Europe and Russia.