Luxury jeweller Tiffany & Co has released its first quarter results today, reporting a 14 per cent rise in US retail sales and a nine per cent increase in net earnings.

The company achieved the positive results despite weaker sales in Japan and higher production costs.

Tiffany believes "favourable response" to its new Celebrations rings campaign has helped boost results, a collection that contains rings of diamonds set in platinum.

Michael Kowalski, CEO at Tiffany, commented: "We are justifiably enthusiastic about Tiffany's growth potential in the US and in many international markets.

"We are more cautious about Japan, but continue to address weakness in that market with product development initiatives and focused marketing."

Additional figures showed worldwide net sales were up by 12 per cent for the three months.

"We believe this clearly signifies the enduring appeal of our classic products and demand for our latest introductions," Mr Kowalski added.