Jul. 21, 2014, 10:17 AM| Jul. 21, 2014, 10:17 AM | Comment!
May 30, 2014, 10:02 AM
May 29, 2014, 5:22 PM
- Signet Jewelers (SIG) completes its $1.46B acquisition of Zale (ZLC) after winning approval from a majority of ZLC shareholders. overcoming opposition from some major shareholders (I, II) and proxy adviser Glass Lewis.
- SIG, already the largest U.S. operator of jewelry stores before the deal, is now nearly 3x bigger than the upscale Tiffany (TIF) in terms of U.S. sales, with a 14.6% market share.
- SIG says it expects the acquisition will increase its per-share earnings in the high single-digits on a percentage basis after a year, and generate cost savings of $100M after three years.
- SIG +3.5% in today's trade.
May 22, 2014, 11:49 AM
May 22, 2014, 10:41 AM
May 21, 2014, 9:10 AM
May 21, 2014, 7:24 AM
- Shares of Tiffany (TIF) jet higher in early trading after the company smashes earnings estimates with its FQ1 report.
- The company saw strength in fine and statement jewelry during the quarter and got a boost from the Atlas jewelry collection.
- Guidance for the rest of the year includes sales growth in the high single digits.
- TIF +6.0% premarket
May 21, 2014, 7:14 AM
- Tiffany (TIF) sails past the estimates of analysts with its quarterly results as global demand in the luxury sector holds up.
- Comparable-store sales rose 11% in FQ1, led by strong growth in Asia and the Americas.
- Sales growth by region: Americas +8%; Asia-Pacific +17%; Japan +20%; Europe +9%.
- Inventory was up 6.1% Y/Y and 4% Q/Q to $2.42B.
- Tiffany sets FY14 EPS guidance at $4.15-$4.25 vs. $4.05-$4.15 prior and $4.17 consensus.
May 21, 2014, 7:03 AM
May 20, 2014, 5:30 PM
May 5, 2014, 3:33 PM
- The crowds at casinos (MPEL, MGM, WYNN, LVS, GXYEF, SJMHF) in Macau during Golden Week continue to impress, according to analysts.
- The May Day period is a national holiday in China.
- The positive read for May traffic at casinos follows up on a 10.6% gain in gaming revenue in the region for April.
- Early channel checks for the luxury sector haven't been quite as rosy. Mainland shoppers' demand for luxury goods is seen as lighter than a year ago.
- China luxury sellers: Gucci (GUCG), Prada, Louis Vuitton (LVMUY), Coach (COH), Ralph Lauren (RL), Michael Kors (KORS), Swatch (SWGAY), Burberry (BURBY), Tiffany (TIF).
Apr. 29, 2014, 7:31 AM
- The luxury sector could see some pressure after Coach saw its comparable-store sales in North America plummet in North America during FQ3.
- Though Coach lost market share to rivals during the period with its brand not quite as strong, the weak sales report could also tip off some underling demand issues in the sector for key categories.
- On watch: Tiffany (TIF), Ralph Lauren (RL), Michael Kors (KORS), Kate Spade (KATE)
Mar. 24, 2014, 7:49 AM
Mar. 21, 2014, 7:21 AM
- Tiffany (TIF) swings to a net loss of $103.6M from a profit of $179.6M a year earlier after taking a pretax charge of $473M related to an arbitration case that the company lost to Swatch.
- Global net sales +9% on a constant currency basis, comparable sales +6%.
- "Sales growth was led by fine and statement jewelry, new or expanded jewelry collections...and continuing strength in our iconic jewelry designs," says CEO Michael Kowalski.
- Guidance: FY 2014 EPS of $4.05-4.15 vs forecasts of $4.28; worldwide net sales to increase by a high-single-digit percentage.
- Tiffany plans to add 13 company-operated stores and to close four outlets this year.
- Shares -1.95% premarket. (PR)
Mar. 21, 2014, 6:58 AM
Mar. 21, 2014, 12:05 AM
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