Worldwide same-store sales were flat compared with the same two months of 2011. Worldwide net sales rose 4%, excluding the effects of currency exchange rates.
Same-store sales fell by 2% in the Americas, by 5% in Japan and by 1% in Europe. In the Asia-Pacific region, sales rose 10% (7% on a constant currency basis).
For the full fiscal year to date, same-store sales are flat with a year ago and up 1% on a constant currency basis.
The company guided full-year earnings per share (EPS) at the lower end of its previously announced range of $3.20 to $3.40. The consensus estimate from Thomson Reuters calls for EPS of $3.26. Tiffany lowered EPS guidance from a range of $3.55 to $3.70 at the end of its third quarter in October.
Looking ahead, for the fiscal year ending in January 2014, Tiffany expects net earnings growth in the range of 6% to 9%.
Shares have fallen about 8.6% in premarket trading this morning, at $57.80 in a 52-week range of $49.72 to $74.20. The consensus price target for the stock is about $67.
Cash Back Credit Cards Have Never Been This Good
Credit card companies are at war, handing out free rewards and benefits to win the best customers. A good cash back card can be worth thousands of dollars a year in free money, not to mention other perks like travel, insurance, and access to fancy lounges. See our top picks for the best credit cards today. You won’t want to miss some of these offers.
Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
