Fri, Jun. 12, 9:32 AM
- Luxury retailers continue to struggle in China as consumers in the nation adjust to pricing disparities derived from currency fluctuations.
- Last year, luxury sales in China fell 11% while overseas purchases by Chinese tourists rose 9%.
- The tally for overseas purchases included the "grey market" where items are bought overseas then resold inside China.
- The trend has continued this year, despite efforts by companies to reset pricing.
- China luxury sellers: Gucci (OTC:PPRUF, OTCPK:PPRUY), Prada, Louis Vuitton (OTCPK:LVMUY), Coach (NYSE:COH), Ralph Lauren (NYSE:RL), Michael Kors (NYSE:KORS), Swatch (OTCPK:SWGAY), Burberry (OTCPK:BURBY), Tiffany (NYSE:TIF).
Thu, May 28, 9:41 AM
Wed, May 27, 12:47 PM
Wed, May 27, 9:18 AM
Wed, May 27, 8:40 AM
- Tiffany (NYSE:TIF) races ahead in early trading as underlying Q1 comps at the retailer come in stronger than anticipated.
- A shift of spending by Asian tourists to Europe contributed to a 17% comp gain in the region, while some high-end spending helped the Americas comp come in at +1% despite the strong U.S. dollar.
- The company's overall underlying comparable-store sales gain of 5% outpaced the marks put up by several of Tiffany's peers during overlapping periods.
- Previously: Tiffany beats by $0.11, beats on revenue (May. 27 2015)
- Previously: Tiffany +6% after results top expectations (May. 27 2015)
- TIF +7.21% premarket to $91.70.
Wed, May 27, 7:45 AM
- Tiffany (NYSE:TIF) reports global sales were up 1% in Q1 on a constant currency basis.
- Sales growth by region (constant currency): Americas +3%, Asia-Pacific +4%, Japan -18%, Europe +21%, Other +1%.
- Gross profit rate +90 bps to 59.1% as improved product costs factored in.
- SG&A expenses +5% Y/Y.
- Inventory -2% to $2.4B.
- The company's effective tax rate during the quarter was 34.7% vs. 35.1% a year ago.
- Guidance: Tiffany expects FY15 EPS to rise "minimally" from last year's level.
- Previously: Tiffany beats by $0.11, beats on revenue
- TIF +6.37% premarket to $90.98 after topping beaten-down expectations.
Wed, May 27, 7:01 AM
Tue, May 26, 5:30 PM
Tue, May 26, 11:45 AM
- Talk of LVMH (OTCPK:LVMUY, OTCPK:LVMHF) making a run at Tiffany (TIF -1.6%) is likely to pick up again after Tiffany reports FQ1 earnings tomorrow, according to CTFinancialNews.
- Though Tiffany has been seen as a potential LVMH target for several years, a 20% drop in the luxury stock's share price this year makes the case for an acquisition a bit more compelling.
- Analysts expect Tiffany to report revenue of $927M and EPS of $0.69 for the F/X-challenged quarter.
Mon, Apr. 20, 12:10 PM
- Research firm Global Blue says Chinese tourists increased their luxury spending by 67% in Q1.
- High-end retailers with stores in Europe received a good portion of the sales after a weak euro attracted tourists to buy in the region over Hong Kong.
- Last year, Chinese tourists increased spending by 18%.
- A reselling trend in China has accounted for some of the brisk growth, while also pressuring prices for luxury brands in China.
- Luxury retailers: Gucci (OTC:PPRUF, OTCPK:PPRUY), Louis Vuitton (OTCPK:LVMUY), Coach (NYSE:COH), Ralph Lauren (NYSE:RL), Michael Kors (NYSE:KORS), Burberry (OTCPK:BURBY), Tiffany (NYSE:TIF), LVMH (OTCPK:LVMHF, OTCPK:LVMUY), Richemont (OTCPK:CFRUY, OTCPK:CFRHF), Remy Cointreau (OTCPK:REMYF, OTCPK:REMYY)
Tue, Apr. 14, 7:51 AM
- Luxury spending in Europe appears to be on the rise, notes retail watcher Rahul Sharma.
- The analyst notes Audi, BMW, and Mercedes-Benz all posted March sales records.
- Yesterday, LVMH (OTCPK:LVMHF, OTCPK:LVMUY) reported sales increased 16% to €8.3B $8.8B (+3% ex-currency) in Q1 off of a tough comparable period. Sales for the selective retailing category were up 20% Y/Y.
- The trend could set up well for Tiffany (NYSE:TIF), Ralph Lauren (NYSE:RL), Coach (NYSE:COH), Michael Kors (NYSE:KORS), Hermes (OTCPK:HESAF, OTCPK:HESAY), and Richemont (OTCPK:CFRUY, OTCPK:CFRHF) which have suffered a bit with Chinese tourism to Europe down.
Fri, Apr. 10, 11:55 AM
- Sales per shopper increased 5.8% Y/Y in March at retail chains, according to data from RetailNext.
- Average transaction value was up 3.5%, while the number of conversions improved by 0.9%
- Total sales were off 3.2% on a 8.2% drop in traffic amid a problematic month for weather. The tallies don't include e-commerce.
- Higher-end store chains such as Lululemon (LULU -0.5%), Tiffany (TIF +0.3%), and Williams-Sonoma (WSM +0.5%) can benefit from the trend toward highly-focused shoppers - while traffic-dependent chains such as Family Dollar (FDO +0.1%), Dollar General (DG +0.6%), and Dollar Tree (DLTR +0.4%) rely on the impulse buys churned up by increased traffic.
Mon, Apr. 6, 7:56 AM
- Monness Crespi Hardt upgrades Tiffany (NYSE:TIF) to a Buy rating from Neutral.
- Though Tiffany runs up against a tough comp in Q1 due to last year's strength in Japan and will continue to face F/X pressure, the second half of the year is setting up for stronger growth.
- The investment firm sets a price target of $103 on the retail stock.
- TIF -0.2% premarket to $86.63.
Thu, Apr. 2, 8:27 AM
- Tiffany (NYSE:TIF) is out with a new CT60 line of watches that veer toward traditional design over high-tech.
- The prices range from $4.25K to $19K for the various pieces.
- The company is hoping to see a successful response after warning in its last earnings report that gross margins for Q1 and Q2 could be impacted by a higher marketing spend tied to the CT60 launch.
Fri, Mar. 20, 7:36 AM
- Tiffany (NYSE:TIF) reports net sales increased 3% on a constant currency basis led by growth in Europe and Asia-Pacific, with the largest growth in the fashion jewellery category.
- Comparable-store sales were flat Y/Y.
- Geographic revenue growth: Americas: $653M (-1%); Asia-Pacific: $284M (+4%); Japan: $148M (-13%); Europe: $162M (unchanged); Other: $39M (+12%).
- Gross margin +30 bps to 60.8%.
- Operating margin declined 400 bps to 23.7%.
- Inventory +1.53% to $2.36B.
- Store count +6 Y/Y to 295.
- TIF -2.73% premarket.
- Q4 results
Fri, Mar. 20, 7:01 AM
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