The company predicted earnings growth of 5 percent to 10 percent in the fourth quarter from a year ago, indicating that earnings per share will be 78 cents to 81 cents.
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International retail sales rose 10 percent, to $190.85 million, while same-store sales increased 3 percent. In Japan, retail sales declined 2 percent.
Tiffany earned $20.81 million, or 14 cents a share, for the three months ended Oct. 31, compared with $28.03 million, or 19 cents a share, in the period a year earlier. Analysts surveyed by Thomson First Call expected 19 cents a share.
Michael J. Kowalski, the chairman and chief executive, said in a statement that he expected gross margins in the fourth quarter to be somewhat lower than in the prior year because of factors like higher metal and diamond costs.
The company reported retail sales at United States stores of $216.5 million, up 7 percent. Same-store sales were up 4 percent.
Net sales increased 7 percent, to $461.2 million, compared with $430.1 million in the year-ago period. Sales at stores open at least a year were up 3 percent. On a constant exchange-rate basis that excludes the effect of currency conversions, net sales increased 5 percent and same-store sales increased 1 percent.
Tiffany also lowered its full-year earnings forecast to $1.43 to $1.48 a share, from $1.55 to $1.60.
The results were well below Wall Street expectations, and Tiffany lowered its earnings outlook.
Analysts surveyed by Thomson First Call expected 84 cents.
y The Associated Press
The jewelry retailer Tiffany & Company said yesterday that its third-quarter earnings fell sharply, dragged down by weaker-than-expected sales in Japan and higher costs for precious metals and diamonds.
The company's stock fell $1.84, or 5.7 percent, to close at $30.29 on the New York Stock Exchange.
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