Tiffany & Co.

Tiffany Stock Dips 10% as Luxury Goods Come Under Pressure

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Tiffany said it earned 77 cents a share, matching analysts’ estimates, on revenue of $1.01 billion, below the $1.05 billion consensus. Comparable sales rose 3%, less than the 6.2% the Street was expecting.

For the full year, the company sees earnings per share of $4.65 to $4.80, below the $4.83 analysts are modeling for. The guidance includes a decline in operating margin, due to “significant” fixed-cost increases. Tiffany also lowered its full-year comparable sales guidance to mid-single-digit growth, down from a prior forecast for mid-to-high-single-digit growth.

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https://www.barrons.com/articles/tiffany...yptr=yahoo

Tiffany & Co. is in big trouble without LVMH's $16 billion takeover — here's the biggest reason why

Tiffany & Co. (TIF) is about to embark back down the path of being a stand-alone public company following luxury goods giant LVMH yanking its $16 billion takeover offer.

And for Tiffany (and what’s left of their investor base), that road is likely to really suck for one primary reason — awful tourism trends globally at the hands of the COVID-19 pandemic. Unlike most in retail, Tiffany has long been over-reliant on global tourism flows to its castle-like stores in densely populated cities. The company’s iconic New York City flagship store on Fifth Avenue alone (which is being renovated and targeted for a late 2021 reopening) has accounted for 10% of worldwide sales in 2019, 2018, and 2017, according to Tiffany’s latest annual report.


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https://finance.yahoo.com/news/tiffany-c...21906.html