Tiffany & Co. Q3 Results Surprisingly Top Forecasts
Shares of Tiffany & Co. surged nearly 5% in premarket trade on Tuesday, after the high-end jewelry seller posted fiscal third-quarter results that surged above expectations. The jewelry retailer reported earnings the three-month period ending October 31 increased to $95.1 million, or 76 cents a share, from $91.0 million, or 70 cents a share, in the same period a year ago. The reading beats projections calling for a decline to 67 cents.
The company’s revenue was announced to advance to $949.3 million from $938.2 million, beating estimates for a decline to $923.8 million. Although same-store sales fell 2% last quarter, the drop was less than feared. While net sales in Europe slid below expectation, those in the Americas, Asia-Pacific and especially Japan topped market forecasts.
Buy Stop at 81.75, take profit at 83.00, stop loss at 81.00