Tiffany & Co. , the designer and retailer of fine jewelry, came out with first-quarter fiscal 2018 results, wherein earnings of $1.14 per share beat the Zacks Consensus Estimate of 84 cents and increased more than 50% year over year.

Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2018 remained stable in the last 30 days. In the trailing four quarters (excluding the quarter under review), the company outperformed the Zacks Consensus Estimate by an average of 4.5%.

Tiffany & Co. Price and EPS Surprise

Tiffany & Co. Price and EPS Surprise | Tiffany & Co. Quote

Revenues: Net sales came in at $1,033.2 million, up 14.9% year-over-year. Top line also surpassed the Zacks Consensus Estimate of $960.7 million. Further, comparable store sales grew 10%.

Guidance: Following the better-than-expected results, the company raised its guidance for fiscal 2018. The company projects net sales to increase in the high-single-digit percentage range on a reported as well as constant-exchange-rate basis, compared with a mid-single digits increase expected earlier. Further, Tiffany now envisions earnings of $4.50-$4.70 per share, compared with the previous guidance of $4.25-$4.45 per share.

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 (Strong Buy) stocks here.

Check back later for our full write up on Tiffany’s earnings report!

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