Tiffany & Co. (TIF) Falls 7% On Lower Profit Outlook
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Price: $131.46 --0%
Financial Fact:
Provision for income taxes: 50.4M
Today's EPS Names:
BTTX, VAXX, ELYS, More
Financial Fact:
Provision for income taxes: 50.4M
Today's EPS Names:
BTTX, VAXX, ELYS, More
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Tiffany & Co. (NYSE: TIF) is trading down 7.4 percent in pre-open trading Tuesday after lowering FY12 EPS outlook.
The luxury retailer sees FY12 EPS of $3.60-$3.65 versus its prior forecast of $3.70-$3.80 and the Wall Stret consensus of $3.76.
CEO Michael J. Kowalsk said "sales weakened markedly in the United States and Europe during the holiday season, reflecting restrained spending by consumers for fine jewelry."
The outlook still implies EPS growth of 23-25% and is higher than the $3.35 - $3.45 guidance provided in March 2011.
Tiffany said worldwide net sales in the two months ended December 31st increased 7% over the prior year.
The luxury retailer sees FY12 EPS of $3.60-$3.65 versus its prior forecast of $3.70-$3.80 and the Wall Stret consensus of $3.76.
CEO Michael J. Kowalsk said "sales weakened markedly in the United States and Europe during the holiday season, reflecting restrained spending by consumers for fine jewelry."
The outlook still implies EPS growth of 23-25% and is higher than the $3.35 - $3.45 guidance provided in March 2011.
Tiffany said worldwide net sales in the two months ended December 31st increased 7% over the prior year.
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