Tiffany Reports First Quarter Results
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May 26, 2016 8:59 AM EDT
Nomura Securities maintained a Buy rating on Tiffany & Co. (NYSE: TIF), and cut the price target to $75.00 (from $90.00), following the company's 1Q earnings report.
Analyst Robert Drbul commented, "TIF reported 1Q16 EPS of $0.69, including a $0.05 tax benefit, below our estimate of $0.70 and above consensus... More
May 25, 2016 4:22 PM EDT
Mizuho Securities maintained a Buy rating on Tiffany & Co. (NYSE: TIF), and cut the price target to $72.00 (from $80.00), following the company's 1Q earnings report. EPS of $0.69 was above consensus $0.68 estimate, partially due to a $0.05 tax settlement benefit.
Analyst Betty Chen commented, "We are... More
May 25, 2016 6:45 AM EDT
Tiffany & Co. (NYSE: TIF) reported Q1 EPS of $0.74, versus $0.81 reported last year. Revenue for the quarter came in at $891 million, versus $962.4 million reported last year.
Comparable store sales declined 9%. On a constant-exchange-rate basis that excludes the effect of translating foreign-currency-denominated sales into U.S. dollars (see Non-GAAP Measures), worldwide net sales declined 7%, and comparable store sales declined 9%.
Net sales highlights by region in the first quarter were as follows:
In the Americas, total sales of $403 million were 9% below the prior year and comparable store sales declined...
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