8/31/2009-While many other upscale retailers are hurting during one of the worst recessions in a generation, Tiffany & Co. (NYSE:TIF) sees the recent plunge in consumer spending as a unprecedented opportunity to pick up market share from jewelers that have succumbed to the recession's drought in sales. "With the number of bankruptcies and reorganizations in the industry, we are hopeful our sales can outpace the economic recovery," Chairman and CEO Michael Kowalski said during an interview on Aug. 28th. "I have been here at Tiffany for 25 years, and in my own personal experience, we have not encountered an environment which we believe provides the long-term opportunity that this one does." During the call, the company's CEO said that it could capture revenues in the $150 to $25,000 price range. The company is also planning to expand its operations by opening additional smaller locations, adding new jewelry designs and offering more products.

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