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(CHARTPOPPERS.COM, January 13, 2010 ) Point Roberts, WA - Chartpoppers.com announces an investment report featuring company Tiffany & Co. (NYSE: TIF)
Tiffany & Co. is a holding company that operates through its subsidiary companies. The Company's principal subsidiary, Tiffany and Company (Tiffany), is a jeweler and specialty retailer whose principal merchandise offering is fine jewelry. It also sells timepieces, sterling silverware, china, crystal, stationery, fragrances and accessories
Recent News on Tiffany & Co. (NYSE: TIF)
Shoppers snapped up Tiffany & Co.'s famous jewelry during the the holidays, prompting the luxury retailer to raise its annual profit forecast Tuesday.
The company, renowned for silver jewelry and its signature turquoise boxes, said its worldwide sales climbed 17 percent in November and December.
Tiffany shoppers seized on all sorts of products at a variety of prices, offering hope for luxury retailers, hit hard as consumers cut their discretionary spending as the economy faltered.
"Better than expected holiday sales were broad-based geographically, but also across all merchandise categories and price strata, marking another leg up in its recovery from the recession," Caris & Co. analyst Dorothy Lakner told investors in a research note.
The New York-based company said this holiday recovery will help it earn $2.07 to $2.12 per share from continuing operations for the full year, an improvement on its earlier forecast for profit between $1.88 and $1.98 per share for the fiscal year ending in January. The company said sales will hit $2.7 billion.
Both figures are higher than the average forecast from analysts surveyed by Thomson Reuters for profit of $1.92 per share on revenue of $2.65 billion. Analysts typically exclude one-time charges from their estimates.
But the Christmas business won't be enough to produce better results even than last year. In fiscal 2009, Tiffany earned an adjusted profit of $2.33 per share on revenue of $2.86 billion.
"While we are encouraged by the broad based strength seen during the holidays -- particularly some recovery in statement pieces $50,000 (and above) -- we feel consumers will likely continue to spend more carefully for some time," Sterne Agee analyst Jennifer Milan told investors in a research note.
In North and Latin America, holiday sales grew 15 percent to nearly $444 million. Sales in stores open at least a year, considered a key gauge of retailers' health because it excludes results from stores that open or close during the year, rose 12 percent.
Tiffany is scheduled to report full results on March 22.
Its shares fell 24 cents to close at $46.44 Tuesday.
To view the Consolidated Investment Analysis on Tiffany & Co. (NYSE: TIF) Please visit the stock pulse page at www.chartpoppers.com
In the report chartpoppers.com covers a recent Financial Summary, Analyst Consensus, Technical Analysis, Comparative Analysis and Insider Trading Activity.
The full report is available at www.chartpoppers.com
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Chartpoppers.com Disclosure
DO NOT BASE ANY INVESTMENT DECISION UPON ANY MATERIALS FOUND ON THIS REPORT. We are not registered as a securities broker-dealer or an investment adviser either with the U.S. Securities and Exchange Commission (the "SEC") or with any state securities regulatory authority. We are neither licensed nor qualified to provide investment advice. ChartPoppers.com nor its affiliates have a beneficial interest in the mentioned company; nor have they received compensation of any kind for any of the companies listed in this communication. The information contained in our report is not an offer to buy or sell securities. We distribute opinions, comments and information free of charge exclusively to individuals who wish to receive them.
CHARTPOPPERS.COM
Paul Mare
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info@chartpoppers.com
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