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
Mar. 20, 2014, 5:30 PM
Mar. 20, 2014, 7:19 AM
Mar. 6, 2014, 10:37 AM
Feb. 20, 2014, 9:08 AM
Feb. 20, 2014, 7:35 AM
Jan. 16, 2014, 2:18 PM
- A new survey on luxury spending by wealthy consumers in China indicates a soft demand trend may continue.
- Spending on gifts fell 25% last year, while overall spending by the wealthy fell 15%.
- A number of factors are in play with Chinese consumption taxes high and the government cracking down on corruption, but the underlying trend is that a surprising number of high net worth consumers are leaving China for new residences overseas.
- The good news for the sector is that some of the lost sales could be recaptured in different markets.
- Related stocks: Gucci (GUCG), Prada, Louis Vuitton (LVMUY), Coach (COH), Ralph Lauren (RL), Michael Kors (KORS), Swatch (SWGAY), Burberry (BURBY), Louis Vuitton (LVMHF), Tiffany (TIF), and Warnaco (WRC).
Jan. 13, 2014, 3:32 PM
- "Options markets suggest this will be one of the most important earnings seasons in 10 years for stock pickers given low expected correlation and limited pre-positioning," says Goldman analyst John Marshall.
- "We expect outsized profitability for call buying strategies on single stocks this quarter," he adds, noting options markets are actually pricing in a lower earnings-day move than any time on record for the average stock. "We expect earnings surprises to spark unexpectedly large stock moves."
- The average earnings-day move last quarter was 3.5x as large as the average daily move, he says, greater than any other time in the past 17 years.
- Goldman analysts see above-consensus reports from KORS, RYL, TIF, EOG, PXD, WNR, BBT, BX, LAZ, STI, BMY, THC, CMI, DOW, STZ, ARUN, OLED, QCOM, and XLNX.
- Goldman's below the Street on ANN, IGT, MAT, COL, JOY, and MSFT.
Jan. 10, 2014, 8:03 AM
- Tiffany (TIF) saw broad global sales gain during the holiday period, but took a hit in Japan where a weak yen contributed to a 12% drop in sales.
- A key point from management is that margins came in as expected as the retailer saw prices hold up globally.
- Shares of Tiffany have traded in a narrow $89-$92.77 range over the 8 weeks as investors waited out how the luxury sector would fare during the holiday season. Bulls think the retailer did enough to spark a rally.
- TIF -0.1% premarket
Jan. 10, 2014, 7:39 AM
Dec. 27, 2013, 7:32 AM
- Holiday sales rose this year by 2.3% to easily top last year's 0.7% rise, according to fresh data from MasterCard Advisors. The mark falls short of the early projections from ShopperTrak and the NRF.
- Jewelry (ZLC, SIG, NILE, TIF) and children's clothing were two categories that showed strong gains.
- The shift to online channels was pronounced this year with mall traffic slow. Online sales for the holiday season were up at a double-digit pace, but also fell short of some forecasts.
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