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On a constant-exchange-rate basis, sales rose 21% in the quarter, Vibram Five Fingers Speed to strong growth in the U.K. and most of continental Europe, and increased 23% in the full year; on that basis, comparable store sales rose 16% and 18%. The Company opened nine TIFFANY & CO. stores in the fourth quarter, and opened 15 in the full year including five stores in the Men's Vibram Five Fingers KSO blue black seven stores in Asia-Pacific (four in China: Beijing, Shanghai (2) and Kunming; and one each in Seoul, Singapore and Taipei) and one in Japan. The Company also closed two locations in Japan. The Company operated 233 stores at January 31, 2011 (96 in the Americas, 56 in Japan, 52 in Asia-Pacific and 29 in Europe), versus 220 a year ago (91 in the Americas, 57 in Japan, 45 in Asia-Pacific and 27 in Europe). Men's Vibram Five Fingers KSO Brown sales declined 30% to $15.3 million in the fourth quarter and increased 2% to $54.2 million in the year (2% of worldwide sales). Declines in wholesale sales of rough diamonds were partly offset in the quarter and entirely offset in the year by increased wholesale sales of finished goods to independent distributors within emerging markets.Other financial highlights: Gross margin (gross profit Men's Vibram Five Fingers KSO deep purple black a percentage of net sales) rose to 60.9% in the fourth quarter from 58.7% in the prior year, with the increase primarily reflecting the recapture of higher product costs through retail price increases, as well as manufacturing efficiencies and sales leverage on fixed costs.