Fri, Jan. 16, 1:55 PM
- Watchmakers from around the world are gathering for the upcoming Salon International De La Haute Horlogerie conference in Geneva with the industry in turmoil after the sudden move by the Swiss government to free the franc.
- "We expect all kinds of difficulties," is the frank assessment from the top executive of the Swiss Watchmakers Federation.
- Local production is required in the industry to use the "Swiss-made" description.
- The development with the franc strikes at a particularly bad time with luxury spending tightening in China.
- Price increases won't bridge the gap between rising production costs, predict analysts.
- Related stocks: Movado (NYSE:MOV), Fossil (NASDAQ:FOSL), Swatch (OTCPK:SWGAY), Tiffany (NYSE:TIF), Richemont (OTCPK:CFRUY), LVMH Moet Hennessy (OTCPK:LVMHF), Hermes (OTCPK:HESAF)
Fri, Jan. 16, 10:20 AM
- The sharp drop in Tiffany (TIF +1.3%) over the last week could bring M&A back into the equation.
- A European luxury conglomerate is seen as the most likely acquirer by some analysts.
- If LVMH Moet Hennessey (OTCPK:LVMHF) tried to put together a bid for Tiffany, it would have to scrap up about $15B ($111/share).
- The captivating buyout talk has helped push TIF up 1.1% today.
- Previously: The watch is on Swiss watch makers (Jan. 15 2015)
- Previously: Tiffany slides as currency swings play a factor (Jan. 12 2015)
- Previously: Tiffany reports negative holiday comp, lowers guidance (Jan. 12 2015)
Thu, Jan. 15, 8:30 AM
- A wild day in the Swiss markets could have some bearing on companies that manufacture Swiss Watches locally to sell in global luxury markets.
- The companies in the sector have sometimes cited swings in the Swiss franc as a factor in their quarterly earnings reports.
- Previously: Franc soars after SNB scraps euro cap
- Previously: Swiss shares crater after SNB abandons cap on euro
- Related stocks: Movado (NYSE:MOV), Fossil (NASDAQ:FOSL), Swatch (OTCPK:SWGAY), Tiffany (NYSE:TIF).
Tue, Jan. 13, 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)
Mon, Jan. 12, 12:46 PM
Mon, Jan. 12, 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)
Mon, Jan. 12, 9:14 AM
Mon, Jan. 12, 7:16 AM| Mon, Jan. 12, 7:16 AM | Comment!
Fri, Jan. 9, 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.
Dec. 23, 2014, 2:59 PM
- The strong reads on consumer spending (ICSC, Redbook) bode well for Q4 earnings in the retail sector, note analysts.
- Electronics sellers (BBY, HGG) and the luxury sector (RL, TIF, COH, KORS, KATE, FOSL, VRA) are viewed as being in a good position to see a December boost.
- Companies which eased off on pulling a bulk of their sales forward with Black Friday/Cyber Monday deals are also seen as potential winners with sub-$2 gas resetting some holiday budgets.
- Though e-commerce is expected to dazzle again this holiday season. It's not all fun and games for analysts looking at margins. The extension by Amazon (AMZN -0.1%) of its free shipping offer could be a signal that inventory levels are higher than anticipated and that the growth-at-all-costs mentality at the company is as entrenched as ever, notes Nasdaq Advisory Services.
- The S&P Retail ETF (NYSEARCA:XRT) has doubled up the return of the S&P 500 over the last 3 months, 10.8% vs. 5.1%.
- Previously: Retail trends to watch: Athleisure, P-E buyouts, and new online channels (Dec. 20 2014)
- Related ETFs: XLP, XLY, VDC,VCR, RTH, RETL, FXG, PBJ, IYK, PEJ, FXD, IYC, FDIS, RHS, SCC, FSTA, UCC, PMR, PSL, UGE, RCD, PEZ, PSCC, PSCD, SZK
Dec. 19, 2014, 1:29 PM
- Analysts expect a mixed holiday season for the retail sector in Hong Kong.
- While mass market retail is forecast to hold up with the level of demonstrations in the region moderating, there's some concerns on the luxury sector.
- The corruption crackdown by Beijing and the weak Yen are two potential drags on tourist traffic.
- Consumer confidence on the high end has also been weakening.
- What to watch: The critical Chinese New Year begins in February giving the luxury sector scant time for the environment to improve.
- Luxury sellers in HK: Gucci (OTC:GUCG), Prada, Louis Vuitton (OTCPK:LVMUY), Coach (NYSE:COH), Ralph Lauren (NYSE:RL), Michael Kors (NYSE:KORS), Swatch (OTCPK:SWGAY), Burberry (OTCPK:BURBY), and Tiffany (NYSE:TIF).
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.
Nov. 25, 2014, 7:02 AM
Nov. 24, 2014, 5:30 PM
Nov. 20, 2014, 1:27 PM
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