Tiffany & Co. (NYSE: TIF) reported Q4 EPS of $1.45, $0.07 better than the analyst estimate of $1.38. Revenue for the quarter came in at $1.23 billion versus the consensus estimate of $1.22 billion.

• Worldwide net sales increased 1% to $1.2 billion and comparable store sales were unchanged from the prior year. On a constant-exchange-rate basis, worldwide net sales rose 2% and comparable store sales were unchanged from the prior year.
• Net earnings were $158 million, or $1.26 per diluted share, compared with $163 million, or $1.28 per diluted share, in the prior year. Net earnings included charges in the current year totaling $0.19 per diluted share for the impairment of capitalized software development costs and the impairment of loans to diamond mining companies, and charges in the prior year totaling $0.18 per diluted share for the impairment of a loan to a diamond mining company and staffing and occupancy reductions. Excluding these charges in both years, net earnings of $182 million, or $1.45 per diluted share, were down from the prior year’s $187 million, or $1.46 per diluted share, reflecting sales deleverage on selling, general and administrative expenses, partially offset by a higher gross margin.

Michael J. Kowalski, Chairman of the Board and Interim Chief Executive Officer, said, “Despite macroeconomic and geopolitical challenges in the past year that we believe will continue in 2017, we strongly believe that Tiffany’s strategies are sound and that we have meaningful growth opportunities. Our management team is focused on accelerating the execution of our strategies to deliver extraordinary products, communications and experiences that will delight our customers around the world. Through strong leadership and this accelerated execution, we believe we are well-positioned to deliver attractive total shareholder return over the long-term.”

For earnings history and earnings-related data on Tiffany & Co. (TIF) click here.