I would think this would bode well for highend retailers such as Nordstrom. It appears folks with capital are still spending it. Nordstrom raised there 2012 guidance and now Tiffany did as well.
Tiffany & Co Raises Fiscal Year 2012 Guidance
Tiffany & Co (TIF $67.25 +4.14) reported second quarter earnings of $0.86 per share, excluding non-recurring items, $0.17 better than the Capital IQ Consensus Estimate of $0.69.
Revenues rose 30.5% year/year to $872.7 million versus the $785.6 million consensus.
For its fiscal year 2012, the company raised its earnings guidance to $3.65 to $3.75, excluding non-recurring items, from $3.45 to $3.55 versus the $3.55 Capital IQ Consensus Estimate, with high teens net sales growth in USD (up from mid-teens) vs. the +15.7% consensus.