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.

Trade suggestion

Buy Stop at 81.75, take profit at 83.00, stop loss at 81.00

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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.

Trade suggestion

Buy Stop at 81.75, take profit at 83.00, stop loss at 81.00

Start Trading Forex, Indices, Commodities And Hundreds of Other Markets With Capital Street FX Now!

Leave a Reply

Your email address will not be published. Required fields are marked *