Tiffany & Co's net sales for the second quarter of 2011 totaled $872.7 million – a 30% increase over Q2 2010 due to strong growth in all geographic regions, the US diamond retailer reports. Net earnings increased 33% and stood at $90 million.

In the first six months of 2011, Tiffany's worldwide net sales rose 25% to $1.6 billion, while net earnings for the first half rose 30% to $171.1 million.

Michael J. Kowalski, Tiffany's chairman and chief executive officer, said, "We are extremely pleased by these results which confirm the growing global appeal of Tiffany's product offerings. In addition, we have been able to absorb precious metal and gemstone cost increases while improving our gross and operating margins."

The diamond company's sales in the Americas rose 25% to $438.2 million in the second quarter and 22% to $812.9 million in the first half. Sales in the New York flagship store increased 41% and 33%, benefiting from strong foreign tourist demand.

In Asia-Pacific, sales increased 55% to $173.2 million in the second quarter and 46% to $340.5 million in the first half. Sales in Japan increased 21% to $142.5 million in the second quarter and 14% to $265.9 million in the first half.

European sales were up 32% to $101.3 million in the second quarter and 28% to $187.0 million in the first half.

As of July 31, 2011, Tiffany & Co operated 236 diamond jewelry boutiques (98 in the Americas, 55 in Japan, 52 in Asia-Pacific and 31 in Europe), versus 223 a year ago.