Tiffany & Co. (NYSE: TIF)
TIF (?Tiffany?) previously reported its sales growth for the two-month period ended December 31st. Management also updated its financial outlook.
TIF (?Tiffany?) worldwide net sales increased 4% to $992 million. 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 also rose 4% and comparable store sales were unchanged from the prior year.
TIF (?Tiffany?) sales in the Americas region increased 3% to $516 million in the holiday period. On a constant-exchange-rate basis, total sales increased 2%, and comparable store sales declined 2% in the New York flagship store and in branch stores. Performance was relatively similar across much of the region. Internet and catalog sales rose 4%.
TIF (?Tiffany?) sales in the Asia-Pacific region increased 13% to $187 million. On a constant-exchange-rate basis, total sales increased 11% (due to growth in Greater China and most other markets) and comparable store sales rose 7%.
Tiffany & Co. (NYSE: TIF) operates jewelry stores and manufactures products through its subsidiary corporations. Its principal subsidiary is Tiffany and Company. The Company operates TIFFANY & CO. retail stores in the Americas, Asia-Pacific, Japan, Europe and the United Arab Emirates, and also engages in direct selling through Internet, catalog and business gift operations. For more information, visit www.tiffany.com or call the shareholder information line at 800-TIF-0110.
In my opinion this is a stock to watch!
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