Mizuho Securities Remains Bullish on Tiffany & Co. (TIF) Despite Weak Holiday Sales - PT to $75
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Tiffany Reports Holiday Period Sales Results
January 19, 2016 6:40 AM ESTNEW YORK--(BUSINESS WIRE)-- Tiffany & Co. (NYSE: TIF) today reported its sales results for the two-month period ended December 31st (holiday period). Results were negatively affected by the strong U.S. dollar and weak tourist spending in a number of markets. On a constant-exchange-rate basis that excludes the effect of translating foreign-currency-denominated sales into U.S. dollars (see Non-GAAP Measures schedule), worldwide net sales declined 3% (due to declines in the Americas and Asia-Pacific offsetting growth in Japan and Europe) and comparable store sales declined 5%. There were no noteworthy differences in performance among jewelry categories.... More
