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Nov. 24, 2015, 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.
Aug. 27, 2015, 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.
Aug. 11, 2015, 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%).
May 27, 2015, 12:47 PM
May 27, 2015, 9:18 AM
May 27, 2015, 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.
May 27, 2015, 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.
Apr. 6, 2015, 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.
Mar. 20, 2015, 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
Jan. 13, 2015, 1:23 PM
- Shares of Tiffany (NYSE:TIF) are down another 1.9% to follow up on yesterday's double-digit slide.
- A strong U.S. dollar not only impacts demand in markets such as Japan and China for Tiffany, but also chips away at tourism spending at U.S.-based stores for the chain.
- Though a few Wall Street firms have cut their price targets on Tiffany, the consensus PT is still pricing in a +10% run.
- KeyCorp and Credit Suisse get credit for downshifting on TIF ahead of the weak sale update.
- Previously: Tiffany update on holiday sales and guidance (Jan. 12)
- Previously: More details on Tiffany's (Jan. 12)
Jan. 12, 2015, 12:46 PM
Jan. 12, 2015, 9:55 AM
- Shares of Tiffany (TIF -11.5%) are getting smacked around in early trading after a harsh guidance cut from the company.
- Retail analysts note currency risk reared its head during the period on a stock priced for perfection.
- Previously: Tiffany reports negative holiday comp, lowers guidance
- Sector news: Bumpy start to the year for luxury retail stocks (Jan. 09 2015)
Jan. 12, 2015, 9:14 AM
Jan. 9, 2015, 11:04 AM
- Another tough day for luxury retail stocks as more concerns on pricing trends build up.
- Consulting firm Bain isn't helping sentiment, noting the luxury sector in China showed negative growth (-1%) for the first time in 2014. An ongoing crackdown by Beijing on corruption is in the background.
- Michael Kors (KORS -1.7%), Ralph Lauren (RL -2%), Kate Spade (KATE -3.2%), Fossil (FOSL -1%), Vera Bradley (VRA -2%), and Coach (COH -2.2%) are all under-performing market averages.
- Related stocks: OTCPK:LVMUY, OTC:GUCG, OTCPK:SWGAY, OTCPK:BURBY, EL, RDEN, OTCPK:HESAF, OTCPK:CFRUY, TIF.
- Related ETFs: PEJ.
Nov. 25, 2014, 7:16 AM
- Tiffany (NYSE:TIF) reports comparable-store sales rose 6% in Q3.
- Geographic revenue growth: Americas +10% to $459M (US +11%), Asia-Pacific +2% to $243M, Japan -12% to $113M, Europe +9% to $114M, Other +28% to $30M.
- Gross margin +295 bps to 59.5% on lower product costs and a higher mix of jewelry.
- Operating margin +70 bps to 17.6%.
- Inventory +6% to $2.6B.
- TIF -1.7% after the company missed the lofty estimates of analysts.
Sep. 29, 2014, 5:01 PM
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