In its April-ending quarter, the company earned 97 a share, 19 cents higher than analysts surveyed by Thomson Reuters expected. Meanwhile, sales surged 13% from a year earlier to $1.01 billion. Boosting profits, sales of new or expanded jewelry collections accelerated, particularly in its low-cost Atlas line.
For the full year ending next January, management expects worldwide net sales up by a high-single-digit percentage. The company also increased its earnings guidance to between $4.15 and $4.25 a share, up from a previous $4.05 to $4.15 a share.
Must Read: Warren Buffett's 25 Favorite StocksSTOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more. TheStreet Ratings team rates TIFFANY & CO as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation: "We rate TIFFANY & CO (TIF) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, expanding profit margins and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and weak operating cash flow."
- You can view the full analysis from the report here: TIF Ratings Report