Categories Earnings, Retail

Tiffany & Co: Q4 2017 snapshot

High-end fine jewelry retailer Tiffany (TIF) reported stellar sales for the holiday quarter jumping 8.5% year-over-year to $1.33 billion, driven by a 10% sales increase in the Asia-Pacific region, mainly helped by the strong growth in China. The Americas region, which contributes to about half of Tiffany’s total sales, grew marginally for the quarter by about 2%, helping in the sales increase.

The company’s profit was impacted by a $146 million or $1.17 per share income tax charge related to the recent tax reforms. Consequently, earnings plunged 60.7% to $61.9 million or $0.50 per share. However, on an adjusted basis, the company reported earnings of $1.67 per share, up 15.1% year-over-year.

Comparable store sales rose 3% for the recently ended quarter. On a constant-exchange-rate basis, worldwide net sales rose 6% and comparable store sales were 1% above the prior year.

For the year 2017, Tiffany opened nine new stores, while it closed seven stores. At year-end 2017, the company had a total of 315 stores.

Outlook

Tiffany gave upbeat guidance for fiscal year 2018, with earnings per share expectation of between $4.25 and $4.45 and year-over-year net sales growth of mid-single digit percentage.

Tiffany fourth quarter earnings

Most Popular

Key highlights from Halliburton (HAL) Q1 2021 earnings results

Halliburton Company (NYSE: HAL) reported first-quarter 2021 earnings results today. Total revenue decreased by 31% to $3.45 billion from $5.03 billion year on year. The company had a net income

Key highlights from Intuitive Surgical (ISRG) Q1 2021 earnings results

Intuitive Surgical, Inc. (NASDAQ: ISRG) reported first quarter 2021 earnings results today. Revenues increased 18% year-over-year to $1.29 billion, driven by growth in da Vinci procedures and system placements. GAAP net income

Earnings Infographic: Netflix (NFLX) subscriber growth slows; Q1 results beat

Netflix, Inc. (NASDAQ: NFLX) Tuesday said its first-quarter 2021 earnings more than doubled. Both revenues and profit topped the Street view, but the streaming giant's subscriber growth decelerated. At the

Tags

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top