Profile image
By ProactiveInvestors (Reporter)
Contributor profile | More stories
Story Views

Last Hour:
Last 24 Hours:

Tiffany’s sparkles after beating estimates with fourth quarter earnings

Friday, March 17, 2017 8:57
% of readers think this story is Fact. Add your two cents.

Up-market jeweler Tiffany & Co (NYSE:TIF) beat market expectations with its fourth quarter earnings, released after the end of trading yesterday.

The shares rose to a 52-week high this morning of US$94 before ebbing to US$92.34, up 2.6% on the day.

Adjusted earnings per share (EPS) came in at US$1.45, beating market expectations of US$1.38, but down one cent on the same period a year earlier.

Sales of US$1.2bn were in line with expectations, up 1% year-on-year.

The company said it expects sales for the whole of 2017 will show a year-on-year low single digit percentage increase, with the strength of the dollar diluting the growth some.

Earnings are expected to be up by a high single-digit percentage.

“Despite macroeconomic and geopolitical challenges in the past year that we believe will continue in 2017, we strongly believe that Tiffany’s strategies are sound and that we have meaningful growth opportunities,” said Michael Kowalski, who is chairman of the Tiffany board and also sitting in as interim chief executive.

“Our management team is focused on accelerating the execution of our strategies to deliver extraordinary products, communications and experiences that will delight our customers around the world. Through strong leadership and this accelerated execution, we believe we are well-positioned to deliver attractive total shareholder return over the long-term,” he added.

Story by ProactiveInvestors


We encourage you to Share our Reports, Analyses, Breaking News and Videos. Simply Click your Favorite Social Media Button and Share.

Report abuse


Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories



Top Global

Top Alternative



Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.