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Tiffany & Co. (TIF)

  • 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)
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  • Mar. 21, 2014, 6:58 AM
    • Tiffany & Co. (TIF): Q4 EPS of $1.47 misses by $0.05.
    • Revenue of $1.29B (+4.0% Y/Y) misses by $20M.
    • Press Release
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  • Mar. 21, 2014, 12:05 AM
  • Mar. 20, 2014, 5:30 PM
  • Mar. 20, 2014, 7:19 AM
    • Tiffany (TIF) announces the appointment of Ralph Nicoletti as its next Chief Financial Officer.
    • The exec will take over the position on April 2.
    • Nicoletti previously worked at CIGNA.
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  • Mar. 6, 2014, 10:37 AM
    • Tiffany (TIF +0.8%) is upgraded to a Buy rating by Citigroup.
    • The investment firm cites the new design team at Tiffany as a potential catalyst.
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  • Feb. 20, 2014, 9:08 AM
    • Tiffany & Co. (TIF) declares $0.34/share quarterly dividend, in line with previous.
    • Forward yield 1.54%
    • Payable April 10; for shareholders of record March 20; ex-div March 18.
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  • Feb. 20, 2014, 7:35 AM
    • The Federation of the Swiss Watch Industry reports Swiss watch exports rose 5.6% in January with high-end products showing strong demand.
    • Related stocks: Movado (MOV), Fossil (FOSL), Swatch (SWGAY), Tiffany (TIF).
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  • 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).
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  • 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
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  • Jan. 10, 2014, 7:39 AM
    • Tiffany (TIF) reports holiday sales rose 4% Y/Y to $1.03B.
    • Comparable-store sales increased 6% during the period.
    • The company reiterates a forecast for FY13 EPS of $3.65-$3.75.
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  • 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.
  • Dec. 23, 2013, 8:06 AM
    • Shares of Tiffany (TIF) slump in early trading after the company gets tagged by an arbitration panel with a bill for $449M in damages owed to Swatch.
    • Retail analysts expected a much lower dollar amount in the case.
    • TIF -2.3% premarket.
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  • Dec. 22, 2013, 11:11 PM
    • An arbitration panel in the Netherlands orders Tiffany (TIF) to pay Swatch (SWGAY) $449M to settle a dispute over a contract.
    • An ambitious plan by the companies to sell watches together under a joint venture went sideways back in 2011.
    • Reps with Tiffany say the they are shocked by the ruling and note the luxury retailer plans to review potential legal actions.
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  • Dec. 11, 2013, 10:54 AM
    • Though most signs have pointed to strong demand from luxury buyers this holiday season, there are a few concerns about the Henrys. The set of spenders known as "High Earners Not Rich Yet" could be peeling back a little bit.
    • China-focused Tiffany (TIF -0.4%) and brand-strong Michael Kors (KORS -0.9%) are expected to skate through just fine - but Nordstrom (JWN -0.1%), Ralph Lauren (RL +0.6%), and Coach (COH -0.2%) could feel a Henry-pinch.
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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