Tiffany & Company (TIF), the designer and retailer of fine jewelry, came out with fourth-quarter fiscal 2014 results, wherein earnings of $1.51 per share that fared a penny better than the Zacks Consensus Estimate while rising 3% year over year.
Given global uncertainties and stronger dollar, Tiffany expects fiscal 2015 earnings to grow modestly over $4.20 earned in fiscal 2014. For the first quarter, earnings are expected to fall 30%, second quarter earnings are expected to decline marginally followed by double digit increases in the remaining two quarters.
Earnings Estimate Revision: The Zacks Consensus Estimate has been unchanged for fiscal 2014 while for fiscal 2015 it is portraying a downtrend in the last 30 days.
In the trailing four quarters, including the quarter under review, the company outperformed the Zacks Consensus Estimate by an average of 9.2%.
Revenues: Tiffany generated net sales of $1,285.3 million that fell short of the Zacks Consensus Estimate of $1,311 million and declined 1% due to sluggishness witnessed across the Americas and Japan. Moreover, foreign currency headwind also adversely impacted the results. In constant currencies, net sales rose 3%, whereas comparable-store sales remained unchanged.
Going ahead, Tiffany expects revenues for fiscal 2015 to increase in low-single-digits on a dollar basis and mid-single-digit on a constant-currency basis.
Key Events: Tiffany announced the opening of 12-15 new stores in the fiscal 2015, mostly in Asia-pacific followed by Americas and Europe.
Zacks Rank: Currently, Tiffany carries a Zacks Rank #4 (Sell).
Stock Movement: Tiffany’s shares are down nearly 3.7% during pre-market trading hours following the earnings release. Clearly, a negative sentiment is palpable among investors following the company’s cautious outlook and mixed results.
Check back later for our full write up on Tiffany’s earnings report!
Want the latest recommendations from Zacks Investment Research? Today, you can download
7 Best Stocks for the Next 30 Days. Click to get this free report >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Be the first to comment