Categories AlphaGraphs, Earnings, Other Industries
Tiffany (TIF) slips to a loss in Q1, misses estimates
Tiffany & Co. (NYSE: TIF) reported a 45% dip in the top-line for the first quarter of 2020 due to the closures of its retail stores across all of the global markets arising from the COVID-19 pandemic crisis. Comparable sales dropped by 44%.
The company slipped to a loss from a profit last year due to lower revenue. The first-quarter was very challenging with sales and earnings significantly impacted by COVID-19, the impact of which the company expects to negatively affect its full-year sales and earnings relative to 2019.
The e-commerce sales were up 23% globally with key markets such as the United States and the United Kingdom up 14% and 15%, respectively. Additionally, sales through our Mainland China e-commerce portal have grown sequentially every quarter since the portal was launched last July.
The company will not be communicating an outlook for the remainder of the year. In light of the company’s entry into the merger agreement, the company will not conduct a conference call to review its results for the quarter.
Take a look at our Other Industries articles here
Most Popular
Netflix (NFLX) Q1 2024 profit tops expectations; adds 9.3Mln subscribers
Streaming giant Netflix, Inc. (NASDAQ: NFLX) Thursday reported a sharp increase in net profit for the first quarter of 2024. Revenues were up 15% year-over-year. Both numbers exceeded Wall Street's
PepsiCo (PEP) to report Q1 earnings next week. Here’s what to expect
PepsiCo, Inc. (NASDAQ: PEP) is preparing to report first-quarter results on April 23, before the opening bell. Of late, the food and beverage giant has been busy aligning its business
What to expect when Southwest Airlines (LUV) reports Q1 2024 earnings results
Shares of Southwest Airlines Co. (NYSE: LUV) were up 2% on Thursday. The stock has dropped 8% over the past one year. The airline is scheduled to report its first
Comments