Tiffany holiday-quarter sales drop 1 percent

Marco Green
March 24, 2019

But it was last up more than 3 percent following Tiffany's earnings release, as its CEO soothed investors' concerns during a conference call with analysts. The luxury jeweler saw sales dip 1% in the fourth quarter to United States dollars 1.3 Billion.

Luxury retailer Tiffany & Co said Friday it expected earnings growth to resume in the second half of the year, helped by a healthy e-commerce business, a forecast that allowed investors to look past slightly disappointing quarterly sales. MCF Advisors LLC boosted its position in Tiffany & Co.by 15.5% during the fourth quarter.

Among 8 analysts covering Tiffany & Co (NYSE:TIF), 3 have Buy rating, 0 Sell and 5 Hold.

"While global demand headwinds have persisted from the second half of a year ago, we see expectations in equilibrium with reality at this point, and compares ease as 2019 progresses", Telsey Advisory Group analyst Dana Telsey said in a research note. Earnings, adjusted for pretax gains, came to $1.60 per share. Eleven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. For the current year the company's revenue estimates are $4.46 Billion compared to low analyst estimates of $4.43 Billion and high estimates of $4.54 Billion according to 26 number of analysts. The company was maintained on Wednesday, March 20 by Bank of America. The ex-dividend date is Tuesday, March 19th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.20%. Tiffany & Co.'s payout ratio is now 53.27%.

In other news, insider Philippe Galtie sold 1,263 shares of the stock in a transaction that occurred on Friday, February 8th. Following the transaction, the insider now owns 6,010 shares in the company, valued at $530,262.30. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The disclosure for this sale can be found here.

The company still expects a decline in per-share profit in the first half of the year due to the external factors Tiffany flagged in the quarter.

Tiffany shares initially fell on the news but turned around by mid-morning. Moody National Bank Trust Division now owns 519 shares of the specialty retailer's stock valued at $42,000 after purchasing an additional 469 shares during the period.

Among regions, same-store sales were flat in the Americas and were down 3% in Asia-Pacific. The Company's jewelry products include fine and solitaire jewelry; engagement rings and wedding bands; and non-gemstone, sterling silver, and gold jewelry.

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