Tiffany & Co. (TIF) Tops Q4 EPS by 7c; Comps Flat
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Tiffany Reports Full Year and Fourth Quarter 2016 Results; Sales and Earnings in Line with Previous Guidance; Management Provides Its Outlook for 2017
March 17, 2017 6:40 AM EDTNEW YORK--(BUSINESS WIRE)-- Tiffany & Co. (NYSE: TIF) today reported its financial results for the full year and the three months (fourth quarter) ended January 31, 2017, which were consistent with its previously issued guidance for the 2016 fiscal year. Worldwide net sales declined 3% in the year and rose 1% in the fourth quarter, while in both periods higher gross margins countered growth in operating expenses. Net earnings per diluted share declined 1% in the full year and 2% in the fourth quarter. The Company generated more than $700 million of cash flow from operating activities in the full year.
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