Seeking Alpha

Tiffany a global story in Q3

  • Tiffany (TIF) reports comparable-store sales in the U.S. rose 1% in Q3 to miss the consensus mark of 2%. Global comp store growth was 7% led by Asia.
  • The company's gross margin rate increased 260 bps to 57.0% as product costs fell back and early price increases stuck.
  • FY13 EPS is pegged by Tiffany at $3.65-$3.75, up from prior guidance of $3.50-$3.60 and above the consensus mark of $3.62. (PR)
  • TIF +6.2% premarket.
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