TIF Stock Continues Killer 2013 With Shining Earnings Report

by Burke Speaker | November 26, 2013 10:36 am

With a growing economy as wind on its back and growth in China, Tiffany (TIF[1]) posted strong sales and saw TIF stock up 52% year to date, and up 8% today after strong earnings moved the stock in early Tuesday trading.

The strong earnings report moved TIF to raise its full-year profit forecast by $0.15 a share to $3.65 to $3.75. And Tiffany continues to predict that net global sales will increase for the fiscal year.

From CNBC:[2]

Global sales rose 7 percent to $911.5 million in the third quarter ended Oct. 31. Analysts on average were expecting $889.5 million, according to Thomson Reuters I/B/E/S. Comparable sales rose 7 percent.

Tiffany reported net income of $94.6 million, or 73 cents per share, compared with $63.2 million, or 49 cents per share, a year earlier.

Global sales saw a 7% increase to $911.5 million in the third quarter. Analysts on average were expecting $889.5 million, as noted by  Thomson Reuters I/B/E/S.

While its Asian markets were its largest growth (in Europe it saw a 2% increase) at 22%, in the United States the company has struggled to find the perfect mix of  expensive jewelry — its brand — and its more-affordable silver items, which generate 25 percent of sales and remains its most profitable category.

Other luxury retailer stock like Michael Kors (KORS[3]) are expected to have the leg up on the competition this holiday season, so investors are keeping a close eye on these stocks.

A stronger economy means stronger growth in these markets, with TIF and KORS looking for tidings of good cheer from the end of this week on.

  1. TIF: http://studio-5.financialcontent.com/investplace/quote?Symbol=TIF
  2. From CNBC:: http://www.cnbc.com/id/101226197
  3. KORS: http://studio-5.financialcontent.com/investplace/quote?Symbol=KORS

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