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Tiffany & Co. (TIF)

  • 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
    • Tiffany (NYSE:TIF): Q2 EPS of $0.86 misses by $0.05.
    • Revenue of $990.5M (-0.2% Y/Y) misses by $19.5M.
    • Press Release
    | Comment!
  • Wed, Aug. 26, 5:30 PM
  • Thu, Aug. 20, 9:39 AM
    • Tiffany (NYSE:TIF) declares $0.40/share quarterly dividend, in line with previous.
    • Forward yield 1.75%
    • Payable Oct. 13; for shareholders of record Sept. 21; ex-div Sept. 17.
    | Comment!
  • 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
    • Tiffany (TIF +0.7%) nabbed a top executive from rival Cartiers to lead its international business.
    • Philippe Galtié will direct sales channels for Tiffany in the EMEA, Greater China, Asia-Pacific, and Japan regions.
    | Comment!
  • 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.
    | Comment!
  • 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.
    | 1 Comment
  • 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
    • Tiffany (NYSE:TIF) declares $0.40/share quarterly dividend, 5.3% increase from prior dividend of $0.38.
    • Forward yield 1.7%
    • Payable July 10; for shareholders of record June 22; ex-div June 18.
    | Comment!
  • Wed, May 27, 12:47 PM
    | 1 Comment
  • Wed, May 27, 9:18 AM
    | Comment!
  • 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.
    | 1 Comment
  • 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.
    | Comment!
  • Wed, May 27, 7:01 AM
    • Tiffany (NYSE:TIF): Q1 EPS of $0.81 beats by $0.11.
    • Revenue of $962M (-4.8% Y/Y) beats by $43.32M.
    • Press Release
    | 1 Comment
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Company Description
Tiffany & Co through its subsidiary, operates as a jeweler and specialty retailer. It also sells timepieces, sterling silver goods, china, crystal, stationery, fragrances, personal accessories and leather goods.
Sector: Services
Industry: Jewelry Stores
Country: United States