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Tiffany +5% after navigating around Trump Tower headache

Nov. 29, 2016 9:33 AM ETTiffany & Co. (TIF) StockTIFBy: Clark Schultz, SA News Editor
  • Shares of Tiffany (NYSE:TIF) opened up over 5% after the company topped Q3 earnings estimates, carving out a new 52-week high of $82.50 in the process.
  • Execs acknowledged a negative impact from the retailer's flagship Manhattan store's close proximity to Trump Tower with its media and security throng, but also noted that the store accounts for less than 10% of global sales.
  • "The company cannot provide any assurance that sales in that store will not be negatively affected by this activity in the fourth quarter or in any future period," warns Tiffany.
  • Previously: Tiffany beats by $0.09, beats on revenue (Nov. 29)
  • Previously: Tiffany higher post Q3 results (Nov. 29)

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