EPS Beat Improves Cowen's Confidence on Tiffany & Co. (TIF); Reiterates Market Perform
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Tiffany Reports Second Quarter Results: Full Year Earnings Outlook is Maintained
August 25, 2016 6:40 AM EDTNEW YORK--(BUSINESS WIRE)-- Tiffany & Co. (NYSE: TIF) reported its financial results for the three months (second quarter) and six months (first half) ended July 31, 2016. Worldwide net sales were below the prior year in both periods, which management attributed to declines in sales to both local customers and foreign tourists in most regions. Net earnings as reported in the second quarter were above the prior year (but declined when compared with adjusted net earnings in the equivalent prior-year period - see Non-GAAP Measures) and declined in the first half. In both periods, earnings benefited from... More
