At the end of its second fiscal quarter closing July 31, 2010, Tiffany & Co. recorded a 9.2 percent increase in its revenues to $668.8 million, and a 19 percent rise in net profit to $67.7 million. The period saw a 6 percent increase in comparable store sales worldwide. Regional net sales at a constant exchange rate rose 7 percent in the Americas (including U.S., Canada and South America), 17 percent in Asia-Pacific, and 25 percent in Europe. Sales in Japan fell 2 percent. %% The cost of sales rose by a mere 2.5 percent to $282 million. Also, gross margins rose from 55.1 percent in the corresponding quarter last year to 57.8 percent in the current said quarter. Net inventories rose 1 percent from the same quarter last year.