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Tiffany's Quarter Tarnished by Swatch Settlement

Debra Borchardt
3/21/14 9:57 AM EDT
Tiffany & Co disappointed investors with its less than sparking fiscal fourth quarter. Tiffany's had to pay roughly $460 million to Swatch to settle a dispute over a joint watch project. Even excluding that charge, Tiffany's did not meet earnings expectations, while revenues came in line. However, it did try to buy shareholder love with a stock repurchase, but the guidance they gave did not offset the stock buyback. U.S. sales improved, but mostly due to the NYC flagship store.
Stock quotes in this video: TIF, TST

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