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    From the balance sheet of Tiffany and Company if we get that from 2003 to 2004 the long-term debt has gone up by $ 62,767, other liabilities have gone up by $ 26,935, and the deferred long term liability charges have been given as $22,397. This apart, the retained earnings have gone up by $26,935, the capital surplus by $ 43,784 and other stockholders equity by $ 30,553. These are the recent sources of the firm's most recent long-term finances.
    Please note from the sector comparative returns graph of Bloomberg L.P. that the performance of TIF peaked sometime in November but has after May fallen below the index.
    Currently its profit is down 11 percent, falling short of Wall Street's expectations. The reasons are declines in sales in Japan and a lower profit margin. So last Thursday when the company released its report, its shares fell 15 percent, or $4.70 to close at $27.10 on the NYSE. For the quarter ended July 31, the company earned $36.6 million, or 25 cents a share, down from $41.1 million, or 28 cents a share, in the same quarter a year ago. Tiffany's worldwide sales at stores open at least a year, also known as same-store sales, ...