Yesterday, 9:26 AM
- The average price for a gallon of gas in the U.S. has now dropped to $2.06 per gallon - a mark that is 27% lower than where gas prices stood heading into the holiday period last year. Despite the extra dollars in the wallets of consumers, most forecasts for holiday retail sales are on the modest side (below 4%).
- The extended period of sub-$3 gas prices in the U.S. hasn't exactly lit consumer spending across broad retail on fire (just ask Wal-Mart) - although it has stoked auto sales for the Detroit Three (GM, F, FCAU). The regional casino sector (ISLE, PENN, BYD, ERI, MTN, MCRI) and cruise line stocks (NCLH, RCL) have also benefited more than major chain stores. Some have suggested that lower gas prices are also an understated driver for Starbucks (NASDAQ:SBUX) and Netflix (NASDAQ:NFLX) which both score high on customer stickiness.
- What next? Seeking Alpha's Stock Pitch Contest on retail is still open until November 30 amid the reset on consumer spending expectations. Current long ideas include PLAY, FRAN, CASY, SKX, WMT, PSUN, HGG, PRTY, TJX, TA, VSTO - while short bets on WMAR, TIF, RT, AMZN, UA, LB, and OUTR are on record.
- Related ETFs: XLP, XLY, VDC, XRT, VCR, RTH, RETL, FXG, PBJ, IYK, IYC, FXD, PEJ, FDIS, RHS, FSTA, SCC, UCC, RCD, PMR, PEZ, UGE, PSL, PSCC, PSCD, SZK, BITE.
Tue, Nov. 24, 7:10 AM
- Tiffany (NYSE:TIF) reports global sales increased 4% in Q3 on a constant currency basis. Comps were +1% on a local-currency basis.
- Sales growth by region (constant currency): Americas -5%, Asia-Pacific +6%, Japan +34%, Europe +9%, Other +8%.
- Gross profit rate +70 bps to 60.2% as lower input costs contributed to the gain.
- SG&A expenses +1% Y/Y.
- Inventory -8% to $2.3B.
- The company's effective tax rate during the quarter was 35.5%, level with the mark from a year ago.
- Guidance: Tiffany expects net earnings to fall 5% to 10% in 2016.
- Previously: Tiffany misses by $0.05, misses on revenue (Nov. 24 2015)
- TIF -6.1% premarket to $71.79.
Tue, Nov. 24, 6:42 AM
Mon, Nov. 23, 5:30 PM
Thu, Nov. 19, 12:36 PM
Thu, Nov. 19, 10:12 AM
- Mizuho lowered its bullish scenario on Tiffany (TIF +0.5%) with a price target reduction to $90 from $106.
- Shares of the luxury retailer are still rated at Buy by the Japanese financial services firm.
- Most analysts covering Tiffany have been caught in the F/X trap which has peeled off profit from Tiffany's earnings. Expectations in China have also run ahead of results.
- Shares of Tiffany are down 18% over the last three months.
Tue, Sep. 8, 5:58 PM
- Tiffany (NYSE:TIF) announces it won a trademark case against Costco (NASDAQ:COST) after a judge ruled the term "Tiffany" is not a generic term.
- Costco has already stopped using the term in describing its ring products.
- Tiffany has been more aggressive over the last few years in protecting its intellectual property.
Thu, Aug. 27, 7:13 AM
- Tiffany (NYSE:TIF) reports global sales increased 7% in Q2 on a constant currency basis.
- Sales growth by region (constant currency): Americas -2%, Asia-Pacific +9%, Japan +27%, Europe +19%, Other -27%.
- Gross profit rate +40 bps to 59.9% as lower wholesale diamond costs factored in.
- SG&A expenses +9% Y/Y.
- Inventory -6.9% to $2.357B.
- The company's effective tax rate during the quarter was 34.2% vs. 34.4% a year ago.
- Guidance: Tiffany expects net earnings to fall 2% to 5% for the full year to $3.99-$4.12.
- Previously: Tiffany misses by $0.05, misses on revenue
- TIF -7.7% premarket to $78.51.
Thu, Aug. 27, 7:03 AM
Wed, Aug. 26, 5:30 PM
Thu, Aug. 20, 9:39 AM
Wed, Aug. 12, 10:16 AM
- Luxury retail stocks are off to a poor start again after Fossil (FOSL -2.1%) reported last night and with increased concerns over China.
- Analysts note it's not just sales in China which are at risk of lower F/X conversion rates, but European luxury sales could dip to due to the reliance of heavy buying (high average transaction prices) from Asian tourists.
- Luxury slumpers today include Movado (MOV -2.7%), Coach (COH -4.8%), Kate Spade (KATE -4.1%), Tiffany (TIF -4.3%), Luxottica (LUX -3.6%), Ralph Lauren (RL -2.2%), Michael Kors (KORS -4.1%), and Guess (GES -2.9%).
- Previously: Fossil beats by $0.30, misses on revenue (Aug. 11 2015)
- Previously: Mixed results for Fossil in Q2, shares -4% AH (Aug. 11 2015)
Tue, Aug. 11, 10:00 AM
- The currency devaluation fired off in China is hitting select consumer goods and services stocks.
- China Southern Airlines (ZNH -18.2%) and China Eastern Airlines (CEA -17.4%) are feeling the sharpest impact.
- Macau gaming stocks trade weaker with Melco Crown (MPEL -2.7%), Las Vegas Sands (LVS -2%), Wynn Resorts (WYNN -3.1%), and MGM Resorts (MGM -0.8%) all lower.
- Luxury retailers are also feeling a pinch due to the F/X headache. Decliners include Tiffany (TIF -2.1%), Ralph Lauren (RL -1.3%), Gucci (OTC:PPRUF, OTCPK:PPRUY), Prada (OTCPK:PRDSF), Hermes (OTCPK:HESAF), Fossil (FOSL -1.5%), Michael Kors (KORS -0.6%), Coach (COH -1.7%), Movado (MOV -1.8%), Kering (OTC:PPRUF), Burberry (OTCPK:BURBY), and Swatch (OTCPK:SWGAY -5.4%).
Fri, Jul. 10, 10:41 AM
Tue, Jul. 7, 11:44 AM
- Bernstein upgrades Tiffany (TIF) to Outperform from Market Perform, pointing to an improving consumer environment and more attractive "entry point pricing" for its silver jewelry category.
- "In the long term, our outlook for the company remains positive on solid sector fundamentals, and with opportunities to evolve and reinvigorate the product assortment and the brand," the research firm said.
- The price target on the stock has been raised from $100 to $108.
Fri, Jun. 12, 5:01 PM
- Tifany (NYSE:TIF) discloses EVP Jill Beraud is leaving, effective today. Beraud was only hired last summer; at the time, Tiffany stated she would "have responsibility for Global Retail Operations including all sales channels in every region, as well as oversight of strategic store development and real estate."
- Going forward, the jewelry retailer's North American and international SVP's will directly report to CEO Frederic Cumenal; a search is ongoing for an international SVP. On an interim basis, regional heads will also directly report to Cumenal.
- Before joining Tiffany, Beraud was the CEO of hair product maker Living Proof.
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