Categories Earnings, LATEST, Other Industries

Tiffany & Co. (NYSE: TIF): Q3 2019 Earnings Snapshot

— Tiffany & Co. (NYSE: TIF) reported net income of $78 million or $0.65 per share for the third quarter of 2019, vs. $0.85 per share expected.

— Worldwide net sales were almost unchanged year-over-year at $1.01 billion, vs. $1.04 billion expected

— Comparable sales were unchanged from the prior-year period; on a constant-exchange-rate basis, sales and comparable sales increased 1% year-over-year

— Worldwide net sales and comparable sales, excluding the Hong Kong market, increased by 4% and 3%, respectively

— In the Americas, net sales decreased 4% in the third quarter; Asia-Pacific net sales were unchanged

— In Japan, net sales increased 19%, while Europe registered a 3% decline

— Opened five company-operated stores in the year-to-date period and closed three. Operated 323 stores as of October 31, 2019

— Repurchased around 883,000 shares of in the third quarter at a total cost of $78.0 million

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