Tiffany & Company , the designer and retailer of fine jewelry, came out with fourth-quarter fiscal 2016 results, wherein adjusted earnings of $1.45 per share surpassed the Zacks Consensus Estimate of $1.37 but decreased 0.7% year over year.
In fiscal 2017, management anticipates earnings to increase by mid-single digit percentage over 2016’s adjusted earnings of $3.75 per share.
Earnings Estimate Revision: The Zacks Consensus Estimate has been stable for fiscal 2017 in the last 7 days. In the trailing four quarters (excluding the quarter under review), the company outperformed the Zacks Consensus Estimate by an average of 7.5%.
Revenues: Net sales came in at $1,229.6 million, up 1.3% from $1,213.6 million recorded in the prior-year quarter, and also above the Zacks Consensus Estimate of $1,224 million. The company expects net sales to increase by low-single digit percentage in fiscal 2017.
Key Events: Tiffany opened 11 company operated stores in the fiscal 2016 and closed five stores. The company ended the fourth-quarter with 313 stores.
Zacks Rank: Currently, Tiffany carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement. You can see the complete list of today’s Zacks #1 Rank stocks here.
Stock Movement: Tiffany’s shares are up nearly 1% during pre-market trading hours following the earnings release.
Check back later for our full write up on Tiffany’s earnings report!
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Tiffany & Company (TIF) Tops Q4 Earnings & Sales Estimates
Tiffany & Company , the designer and retailer of fine jewelry, came out with fourth-quarter fiscal 2016 results, wherein adjusted earnings of $1.45 per share surpassed the Zacks Consensus Estimate of $1.37 but decreased 0.7% year over year.
In fiscal 2017, management anticipates earnings to increase by mid-single digit percentage over 2016’s adjusted earnings of $3.75 per share.
Earnings Estimate Revision: The Zacks Consensus Estimate has been stable for fiscal 2017 in the last 7 days. In the trailing four quarters (excluding the quarter under review), the company outperformed the Zacks Consensus Estimate by an average of 7.5%.
Tiffany & Co. Price, Consensus and EPS Surprise
Tiffany & Co. Price, Consensus and EPS Surprise | Tiffany & Co. Quote
Revenues: Net sales came in at $1,229.6 million, up 1.3% from $1,213.6 million recorded in the prior-year quarter, and also above the Zacks Consensus Estimate of $1,224 million. The company expects net sales to increase by low-single digit percentage in fiscal 2017.
Key Events: Tiffany opened 11 company operated stores in the fiscal 2016 and closed five stores. The company ended the fourth-quarter with 313 stores.
Zacks Rank: Currently, Tiffany carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement. You can see the complete list of today’s Zacks #1 Rank stocks here.
Stock Movement: Tiffany’s shares are up nearly 1% during pre-market trading hours following the earnings release.
Check back later for our full write up on Tiffany’s earnings report!
More Stock News: 8 Companies Verge on Apple-Like Run
Did you miss Apple's 9X stock explosion after they launched their iPhone in 2007? Now 2017 looks to be a pivotal year to get in on another emerging technology expected to rock the market. Demand could soar from almost nothing to $42 billion by 2025. Reports suggest it could save 10 million lives per decade which could in turn save $200 billion in U.S. healthcare costs.
A bonus Zacks Special Report names this breakthrough and the 8 best stocks to exploit it. Like Apple in 2007, these companies are already strong and coiling for potential mega-gains. Click to see them right now >>