Tiffany & Co reported Q4 earnings in-line with analysts' expectations. Comments by CEO Michael J. Kowalski that the firm is off to a good start in Q1 and tracking ahead of expectations, sent its shares higher in pre-market trading. Q4 net income totaled $140.5 million, or $1.02/share, compared to $140.3m ($0.97/share) in its prior Q4. Revenues rose 15% to $986m, beating analysts' average estimate of $979m. Shares of Tiffany were trading up 1.32% to $46.10 in pre-market activity, at the time of publishing. If it trades this high during normal trading, it would represent a new 52-week high, approaching its highest levels in more than three years.
Sources: Press release, Associated Press, MarketWatch
Commentary: Five Outperformers That Break the Basic Laws of Economics • Tiffany: A Little Too Luxurious Now • Tiffany: Trian Frund Discloses 5.5% Stake, Believes It's Undervalued
Stocks/ETFs to watch: Tiffany & Co (NYSE:TIF)
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