Last week Tiffany's management said it plans to open between five and seven new locations in 2008, each totaling about 5,000 square feet. That was expected. What came as a bit of a surprise was that management also said that it now expects to add another three to five smaller locations in the 2,000 square foot range - which are known as its "Tiffany & Co. Collections" stores.

I think management's plans to grow the company's footprint in this manner are very smart. Tiffany's continues to fare well despite the macroeconomic slowdown. The jeweler is coming off a strong quarter, and management remains  optimistic about the outlook going forward.

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