Earnings Preview: Tiffany & Co.

Tiffany & Co. (TIF) is expected to report Q2 earnings before the market open on Friday, August 28 with a conference call scheduled for 8:30 am ET.

Guidance

Analysts are looking for a profit of 33c on revenue of $602.14M. The consensus range is 28c-37c for EPS, and revenue of $591.4M-$614.91M, according to First Call.

Analyst Views

Analysts believe Tiffany will gain market share from other jewelers forced to close down during the recession.

Oppenheimer said on August 21 that the worst is likely behind Tiffany and that sales should steadily improve. Stifel Nicolaus analyst David Schick said he is bullish on the company because of worldwide growth opportunities, a weak U.S. dollar and better financial markets. While Schick said luxury shopping is "less bad" than he previously believed, he warned that rolling out engagement jewelry in smaller stores, which Tiffany is considering doing in September, may hurt the brand "and offer little reward."

Analysts and investors will listen for comments on how the company's Manhattan flagship store is performing going into the critical holiday season. Shares of Tiffany rose 3.1% during the quarter.