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ACCESSWIRE
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Active-Investors: Wired News - Tiffany & Co. Reported Strong Holiday Season Sales; Shared Guidance for FY17 and Early Forecasts for FY18

Stock Monitor: Signet Jewelers Post Earnings Reporting

LONDON, UK / ACCESSWIRE / January 19, 2018 / Active-Investors.com has just released a free research report on Tiffany & Co. (NYSE: TIF) ("Tiffany"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/'symbol=TIF as the Company's latest news hit the wire. On January 17, 2018, the Company disclosed that its net global sales witnessed an increase of 8% to $1.05 billion during the holiday months of November and December 2017. The Company has attributed the increase in sales to the growth across geographies, product lines, and increase in store sales by 5%. Register today and get access to over 1,000 Free Research Reports by joining our site below:

www.active-investors.com/registration-sg

Active-Investors.com is currently working on the research report for Signet Jewelers Limited (NYSE: SIG), which also belongs to the Services sector as the Company Tiffany. Do not miss out and become a member today for free to access this upcoming report at:

www.active-investors.com/registration-sg/'symbol=SIG

Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Tiffany most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

www.active-investors.com/registration-sg/'symbol=TIF

The Company's overall worldwide net sales increased by 6% and global store sales witnessed an increase of 3%. The increase in sales during the holiday season has led to the Company's management to up its annual earnings forecast for the year ending January 31, 2018 (fiscal 2017). Additionally, the Company has also shared the preliminary earnings outlook for fiscal 2018.

Commenting on the Company's improved sales performance, Alessandro Bogliolo, CEO of Tiffany, said:

"While our major Fashion Jewelry collections continued to perform well, customers were equally excited about our Fine Jewelry, our Watches and our new Home and Accessories collection. Some exceptional High Jewelry creations further contributed to the sales performance. This recent return to growth in worldwide comparable store sales, fueled by a substantial improvement in the Americas and Asia Pacific, is consistent with our commitment to generate solid and sustainable growth in sales, operating margin and earnings that is at least comparable to our industry peers over the long-term."

The Company believes that the decline in store sales in the recent quarters could be stemmed by evolving their product lines, improving customer experience and by increasing strategic business-related spending. The Company's preliminary outlook for fiscal 2018 reflects these points. He also reiterated the fact that increase in sales reflected the strength of Tiffany's brand and that the Company plans to leverage this fact to expand its global footprint and seize various long-term global opportunities.

Key Highlights of Holiday Season Sales

  • The Company's total Americas based sales witnessed an increase of 7%, or $516 million, and its store sales increased by 6%. Although the Company's sales witnessed an increase across the US, Canada, and Latin America, the increase in sales was more from its US market.

  • Total sales from Asia/Pacific increased by 16%, or $232 million. The increase was mainly due to an increase of 7% store sales, opening on new stores and increase in wholesale sales. The Company shared that most of spending in this region was seen by customers in mainland China, Hong Kong, and Korea.

  • The Company's sales in Japan increased by 1%, or 145 million, while the store sales remained the same.

  • In Europe, the Company's sales increased by 14%, or 136 million. The increase was due to the opening of new stores, this, however, had a slightly negative impact on the overall store sales which rose by 2%.

  • The Company's other total sales witnessed a decline of 10%, or $18 million, and a 14% increase in store sales, which was offset by a decline in wholesale sales of diamonds.

  • The Company had 316 stores operational as on December 31, 2017, of which there are 125 stores in the Americas, 87 stores in Asia/Pacific, 54 stores in Japan, 46 stores in Europe, and 4 stores in the UAE. The products in the High, Fine and Solitaire and the Fashion jewelry categories witnessed the maximum sales, while the Engagement Jewelry and Wedding Bands category witnessed a marginal growth.

Revised Guidance for Fiscal 2017

The Company has revised its guidance for fiscal year 2017, some of the key points include:

  • Increase in global net sales by approximately 4% compared to fiscal 2016;

  • Increase in diluted net earnings per share (EPS) in double digits as compared to diluted net EPS of $3.55 in fiscal 2016;

  • The Company expects that the re-measurement and deemed repatriation tax will result in aggregate charges of $115 million to $165 million in Q4 2017 ending January 31, 2018. The amount in an estimate and not final and can change later. (The Company's guidance for fiscal 2017 assumes that its global retail square footage increases by 2%; its operating margins are more than fiscal 2016; interest and other expenses, net of $35 million to $37 million; income tax rate is approximately 33%; no major changes in exchange rates; and minimal benefit to net diluted EPS from share buybacks. These do not include impact of recent changes in tax-code);

  • Net cash from operations to be at least $735 million;

  • Free cash flows of more than $500 million (the cash flow guidance is based on the Company's assumption that the growth rate of net is same as sales growth, capital expenditures of $235 million and that the net earnings as per the Company's expectations).

Preliminary Guidance for fiscal 2018

For the fiscal 2018 the Company expects:

  • Increase in global sales in mid-single-digit percentage;

  • Increased business spending in technology, marketing communications, visual merchandising, digital, and store presentations for achieving sales, margin and earnings growth objectives;

  • Marginal declined in net diluted EPS compared to net diluted EPS of FY17 due to increase in business spending;

  • To benefit from the implementation of the new tax-code.

The Company plans to provide a detailed guidance for 2018 in March 2018 when it will report the results for full fiscal year 2017.

About Tiffany & Co.

New York-based Tiffany has been in existence since 1837 and is a holding Company that operates through its subsidiary companies. Its main subsidiary Tiffany and Co., is a leading high-end and luxury jeweler and specialty retailer. Its product offerings include jewelry, timepieces, sterling silverware, china, crystal, stationery, fragrances and accessories. The holding Company through Tiffany and Co. and other subsidiaries are engaged in product design, manufacturing and retailing activities.

Tiffany has a global presence with over 300 stores and over 11,900 employees.

Stock Performance Snapshot

January 18, 2018 - At Thursday's closing bell, Tiffany's stock slightly declined 0.86%, ending the trading session at $108.05.

Volume traded for the day: 1.93 million shares, which was above the 3-month average volume of 1.43 million shares.

Stock performance in the last month - up 6.62%; previous three-month period - up 13.81%; past twelve-month period - 35.16%; and year-to-date - up 3.94%

After yesterday's close, Tiffany's market cap was at $13.45 billion.

Price to Earnings (P/E) ratio was at 28.97.

The stock has a dividend yield of 1.85%.

The stock is part of the Services sector, categorized under the Jewelry Stores industry. This sector was up 0.1% at the end of the session.

Active-Investors:

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A-I has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third-party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email info@active-investors.com. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

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A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

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This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither A-I nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://active-investors.com/legal-disclaimer/.

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SOURCE: Active-Investors

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