Higher commodity costs and costs to support product markets slightly offset sales in North America, the U.S. auto company said.

FORBES: Ford Shares Plunge on Q4 Profit Drop

Management increased inventories in support of sales growth, new store openings, product introductions and higher product acquisition costs.

FORBES: Tiffany Q1 Sales and Earnings Better than Expected

The increase was planned to support sales growth, store openings, product introductions and expanded assortments, and higher product and raw material acquisition costs.

FORBES: Tiffany Q2 Sales Up 30%, Same Store Sales Up 22%, Raises Earnings Forecast