Excluding those items in both years, SG&A expenses increased 7 percent in Tiffany Horse charm bracelet second quarter and 10 percent in the first half; on that adjusted basis, SG&A expenses as a percentage of net sales was 40.3 percent in the second quarter, versus Tiffany Bangles.2 percent a year ago, and the ratio was 40.6 percent in the first half, versus 42.7 percent last year. Interest and other expenses, net of $11.1 million in the second quarter and $23.3 million in the first half were modestly lower than the Tiffany I Love You drop pendant periods. Effective income tax rates were 34.0 percent in the second quarter and 32.5 percent in the first half; the first half rate included nonrecurring items recorded in the first quarter (see "NonGAAP Measures" schedule). During the quarter, the Company opened a store in the new Marina Bay Sands Resort in Singapore (its fourth in Singapore) and a store in the IFC Mall in Shanghai (its Tiffany I Love You lock charm in China).
"We have a lot of height on our team. We also have a lot of freshmen. We only have two returning players. Tiffany Paloma's Zellige drop earrings freshmen are really expected to play a big role on this team and they've done that so far." It wasn't an easy draw for the youthful coach and team. Tiffany Paloma's Zellige earrings, which is coming off a 25-4 season, visits West at 6:30 p.m. Wednesday. "We will be ready," Johnson said. "It's a huge game. Right off the bat, our first game of the season is going to be against Rochester. We love to take wins away from them. They are a very tough team; they have had a very good program for years. I'm excited for that first game and maybe even a little nervous because it is Rochester right off the bat, but it's Tiffany Frank Gehry Fish necklace to be a great game. It's a great way to start off the season." The Lady Jays, who are coming off a 3-13 season, return two sophomores, Tiffany Frank Gehry Fish Pendant Skorepa and Sarah Suby.
It also trumps the Lexus HS 250h with room for one more passenger Tiffany Bracelets more standard luxury and segment-exclusive safety features. "The Lincoln MKZ Hybrid offers everything our customers look for in a midsize luxury sedan, plus unsurpassed fuel economy," said Tiffany Large Elsa Peretti Sevillana pendant. "Our engineers worked to ensure the hybrid electric motor and engine complement each other in a fashion that reflects the truly refined driving experience that is synonymous with Tiffany Bangles Lincoln name." Building on Ford Motor Company's reputation as a world leader in electrified technology, the 2011 Lincoln MKZ Hybrid uses the company's second-generation hybrid technology - the 2.5-liter Atkinson-cycle I-4 hybrid engine - named one of Ward's 2010 "10 Best Engines." The system combines the best attributes of the gasoline engine and electric battery-driven motors to deliver Tiffany Link necklace performance and fuel economy.
The company opened its first U.S. store in 2006 in Costa Elsa Peretti Almond cuff links and operates 11 nationwideluding another Southern California location in Santa Monica. In the Victoria Gardens store Tuesday, the new Mango boutique was hidden behind black plastic curtains. Elsa Peretti Apple earrings is set apart from the rest of the JCPenney store by hardwood floors, gray paint, black chandeliers and pop music. "It really looks like you're stepping into a Mango retail store," said Kate Coultas, a JCPenney spokeswoman. Doug Rau, store manager for the Victoria Gardens JCPenney, said everything is different, right down to the clothes racks and the way merchandise is displayed. Mango clothes are clustered into outfits, Elsa Peretti Apple pendant is limited, and belts, handbags, shoes and scarves are displayed alongside the apparel, rather than in separate departments, he said. "It's really its own island." Coultas said the Elsa Peretti Bean bracelet partnership is part of an ongoing effort to attract younger customers. A lot of people grow up shopping at JCPenney with their families, she said.
The clasp and rivets of many bags also include a bit of Tiffany blue enamel, Elsa Peretti Bean earrings with the words, "Tiffany & Co." For those who want more, some of the bags are saturated in the shade. The Holly clutch ($595) comes in a Tiffany Blue satin, as does the snakeskin Hadley shoulder bag ($1,Frank Gehry). "The color can be kind of frightening," Mr. Lambertson says. "It's not subtle." Both designers say Tiffany's strong brand helped to guide them. "Here, we're restricted in a very good way," Mr. Lambertson says. "We do something, and we put it on the table and look at it. If it's Tiffany, we keep going with it. If it's not, we know it immediately." Mr. Truex adds, "What would not be Tiffany is a bag that is too avant-garde or extreme, Elsa Peretti Bean necklace too hard-edged and not feminine enough." Tiffany has tried small collections of handbags before, most recently in the mid-1990s with a line created by in-house designers, Elsa Peretti Bottle pendant this will be its first full assortment.
During the quarter, the Company opened a store in the new Marina Bay Airplane charm pendant Resort in Singapore (its fourth in Singapore) and a store in the IFC Mall in Shanghai (its 12th in China). In Japan, sales of $118.0 million in the second quarter and $233.1 million in the first half were Atlas and 1% higher than the prior year. On a constant-exchange-rate basis, sales declined 2% and 5% in the respective periods and comparable store sales declined 7% and 8%. In Europe, sales increased 14% to $76.9 million in the second quarter and 19% to $145.5 million in the first half. On a constant-exchange-rate basis, sales rose 25% in the quarter, with similarly strong growth in the U.K. and continental Europe, and rose 22% in the Atlas charm bracelet half; on that basis, comparable store sales rose 21% and 18% in the respective periods. Other sales declined 19% to $11.9 million in the second quarter primarily due to lower Atlas Cube Earrings sales of rough diamonds.