Dive Brief:

• Tiffany & Co. wowed investors and observers with Q2 sales increases of 9% in the Americas, 8% in Europe, and 14% in the Asia-Pacific region, despite a 13% decline in Japan. 

• The luxury jeweler said Q2 net sales increased 7% to $992.9 million, beating Bloomberg economists’ expectations of $988 million, and reported a profit boost of 16%.

• Earlier this summer Tiffany’s announced the retirement in 2015 of CEO Michael Kowalski, who has been in the position for 15 years. The company’s president Frederic Cumenal will take over as CEO.

Dive Insight:

The iffy retail environment that has held back lower- and middle-income shoppers hasn’t been much of an issue for high-end retailers like Tiffany. Looks like that could continue for the foreseeable future.