Tiffany (TIF): Q3 EPS of $0.49 misses by $0.14. Revenue of $853M (+4% Y/Y) misses by $4M.More on Tiffany's (TIF) Q3: The retailer saw steady
sales gains in the Americas region, Asia-Pacific, and Europe but its gross
margin rate fell 160 bps to 54.4%. Tiffany didn't keep pace with the overall
retail sector, seeing Internet sales only increase 3% during the period. The
company sets a "cautious" outlook with global macroeconomic factors in play,
saying it sees FY12 EPS of $3.20-$3.40, lower than prior guidance of $3.55-$3.70
and short of the consensus mark of analysts calling for $3.60. TIF -12.2%.
Luxury stocks could trade with some apprehension after
Tiffany (TIF) misses the profit estimates of analysts by a wide margin and
guided its expectations for FY12 lower. Though higher precious metal costs are
particular to the company, the sluggish demand in U.S. and Europe for high-end
products could be systemic to the sector. On watch:
Fossil (FOSL),
Coach (COH),
Ralph Lauren (RL),
Movado (MOV).
Michael Kors Holdings Ltd. (KORS)
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