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According to data compiled by Bloomberg, TIF may boost its dividends to 31 cents a share from 26 cents this week.
TIF reported net sales of $681.7 million for the quarter, which was an increase of 14% from the same period last year. Comparable store sales increased by 7%. Net earnings increased 27% to $55.1 million.
Worldwide sales at Tiffany & Co. (NYSE: TIF) increased 22% in the first quarter ended April 30, 2010. Net sales increased 22% to $633.6 million, from $517.6 million in last year’s first quarter. Net earnings increased 135% from last year and earnings per share increased 127% to $0.50 per diluted share.
TIF's stock rallied mid January due to better than industry reports. TIF reported an ROE of 13.5% when the industry average was 2.5%. News of this caused TIF to be upgraded by investment bank Jeffries from Hold to Buy. This upgrade caused the stock to be looked at more closely by analysts and boosted its price up more.
For Q3 2009, ended Oct. 31, 2009, TIF reported net earnings of $0.34/diluted share, and raised its forecast of earnings for FY 2009 to be in the $1.88-1.98 range. This is significantly higher than the street consensus estimate of $1.77/share.
TIF announced its regular quarterly dividend of $0.17 per share on its common stock, payable on Jan. 11, 2010, to stockholders on record as of Dec. 21, 2009.
Fears about further decline in the economy have weakened. The luxury sector has bounced back due to increased confidence and aggressive cost-cutting methods that have decreased overhead.
Trian Fund Management sold 2 million shares of Tiffany on Wednesday, bringing its investment in the company to 6.9% from 8.5%. Shares fell as investors found outabout Trian's move.
As luxury spending in the United States continues to decrease, Tiffany's sales forecasts are looking less likely. The company shares have decreased by more than 60% this year alone, and its outlook for fiscal year 2009 are expected to be below Wall Street expectations.
Tiffany reported an 11% increase in worldwide net sales and a 5% increase in comparable store sales for the second quarter of 2008. Net earnings per share increased 31% from the same quarter of 2007 as Tiffany's operating and gross margins increased in the quarter.
Tiffany reported a 12% increase in net sales for the first quarter 2008 and a 17.5% increase in operating income, for earnings per share of $0.50, beating analyst estimates of $0.41. Tiffany was largely helped by the falling value of the dollar as its international sales gained as much as 15% (in Japan) as a result of foreign currency appreciation.
NEW YORK (MarketWatch) -- In a positive sign for the luxury-goods sector, Tiffany & Co. had its biggest stock gain in more than seven years after its adjusted fourth-quarter profit rose more than expected, helped by gains outside of the U.S. and sales of silver and designer jewelry. The company also said U.S. same-store sales are posting gains after a decline in the fourth quarter.
Tiffany's stock rose as the company reported an impressive 18% yoy net sales increase for the quarter. Comparable store sales (sales at stores open for a year or more) also increased by 8% in the US and by 10% abroad. The increase was driven by revenue from a real estate sale-leaseback of Tiffany's Tokyo flagship store, and strong demand for diamond and silver jewelry. Tiffany continues its aggressive expansion campaign, opening 3 new US stores and 6 international stores in the quarter. However, gross margin did fall by 0.5% due to an increase in wholesale diamond sales--a trend that could have a negative impact on Tiffany's revenues if it continues.
Shares rose about 3% as the company reported same store sales growth of 17%, and beat analysts' estimates for sales.
Tiffany's agreed to sell its Little Switzerland chain to NXP Corporation, boosting its stock price by over 2%. The transaction resulted in an after-tax loss of $0.15 - 0.18 per share.
Tiffany's shares climbed quickly as speculation around a takeover by French luxury giant LVMH grew.
On April 1, 2007, Tiffany announced that net sales for fiscal year ending 1/31/2007 rose 11%. This led to an
Stock moves from 43.86 to 45.06 as an investment firm controlled by activist shareholder Nelson Peltz
11/28/2006 - 11/29/2006: Stock moves from 35.93 to 38.22 in a day as Tiffany raises FY 2006 EPS outlook to $1.79-$1.84.
