Tiffany Gains Marginally; Reports Third Quarter Earnings

Tiffany & Co. (NYSE:TIF) shares are currently trading at $60.49, a gain of 3.81% from previous closing price of $58.27. The company's shares have 52-week trading range of $59.59 – $35.81. The stock is trading at volume of 1.36 million shares. The market capitalization of the company is $7.63 billion. The 1-year target estimate is $60.00. Today, the company reported its third quarter financial results 2010, with net revenues at $681.7 million, an increase of 14% as compared with the previous year. The worldwide net and comparable store sales increased 12% and 7%, respectively. The net earnings from continuing operations increased 27% to $55.1 million, or $0.43 per diluted share, as compared to $43.3 million, or $0.34 per diluted share, last year. The earnings in 2010's third quarter include $0.03 per diluted share of expenses related to the pending relocation of Tiffany's New York headquarters staff. This quarter demonstrated its expanding, globally diversified store presence to provide a significant platform to generate sustainable sales and earnings growth. The company expects sales to increase approximately by 12% for 2011. The net earnings from continuing operations excluding nonrecurring items are expected in the range of $2.72 – $2.77 per diluted share. Tiffany & Co. is a jeweler and specialty retailer whose principal merchandise offering is fine jewelry. Disclaimer: The assembled information distributed by epicstockpicks.com is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities. Epicstockpicks.com does expect that investors will buy and sell securities based on information assembled and presented herein. EpicStockPicks.com will not be responsible in any way for or accept any liability for any losses arising from an investor's reliance on or use of information obtained from our website or emails. PLEASE always do your own due diligence, and consult your financial advisor.
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