Coach (COH) Falls On Tiffany (TIF) Warning
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Coach (NYSE: COH) is down 2.2 percent in pre-open trading Tuesday following lower guidance from rival Tiffany & Co. (NYSE: TIF) (-8.6%).
Tiffany 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."
Tiffany 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."
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