By Sarfaraz A. Khan and Gohar Yousuf
The world’s second leading jewelry retailer Tiffany & Co. (TIF) has recently released
its quarterly results in which it managed to beat analysts’
expectations on the back of higher Jewelry prices and a drop in input
costs. This was due to the higher confidence among wealthy Americans who
purchase expensive products, which was driven by the strong performance
of the stock markets this year. This is evident in the dozens of
records that the S&P 500 (SPY) has broken in 2013.
With a healthier business environment, Tiffany is looking more confident and has raised its full-year earnings guidance. For the quarter ending October 2013, Tiffany posted a huge increase in net earnings of 49.7% to $94.61 million, or $0.73 per share, from $63.18 million, or $0.49 per share, in the same quarter last year. The current results were considerably above analysts’ profit estimates of .. read full article at GuruFocus
With a healthier business environment, Tiffany is looking more confident and has raised its full-year earnings guidance. For the quarter ending October 2013, Tiffany posted a huge increase in net earnings of 49.7% to $94.61 million, or $0.73 per share, from $63.18 million, or $0.49 per share, in the same quarter last year. The current results were considerably above analysts’ profit estimates of .. read full article at GuruFocus
