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%.

Tiffany (TIF) Q1 2020 earnings

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

Earnings calendar for the week of May 17

Benchmark stock indexes pared their recent gains early this week amid elevated inflation concerns, but regained a part of the momentum later aided by recovery in tech stocks. The Dow

Aurora Cannabis (ACB) Earnings: 3Q21 Key Numbers

Aurora Cannabis Inc. (NYSE: ACB) reported third quarter 2021 earnings results today. Total revenues fell 25% year-over-year to CAD55.1 million. Adjusted EBITDA loss amounted to CAD24 million. Cash balance as

Walt Disney (DIS) Q2 revenue down 13%; earnings beat estimates

Media behemoth The Walt Disney Company (NYSE: DIS) reported second-quarter revenues that declined from last year as customers stayed away from theatres and parks due to pandemic-related safety issues and

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