NEW YORK (TheStreet) -- Tiffany & Co. (TIF) - Get Report stock closed lower by 0.17% to $63.85 on Tuesday, before the jewelry retailer reports its fiscal 2016 first quarter financial result on Wednesday before the opening bell.
Wall Street is expecting the New York City-based company to deliver a year-over-year decline in the top and bottom lines.
Analysts surveyed by Thomson Reuters have estimated for earnings of 68 cents per share on revenue of $915.1 million for the latest quarter, compared with earnings of 81 cents per share on $962.4 million in revenue for the same quarter last year.
"While we are optimistic about TIF's efforts to improve its positioning with the domestic consumer, we think that materialization will take some time and that pressure from reduced tourism will continue," Nomura analysts said in a note released before today's market open.
Nomura analysts estimate global comparable store sales will be down 5% for the first quarter, driven by an 8% decrease in the Americas and a 9% decline in Europe.
TheStreet's Jim Cramer, portfolio manager of the Action Alerts PLUS charitable trust, said he would not be a buyer of Tiffany's stock ahead of tomorrow's earnings because the company is still "not that well run."
Separately, Tiffany has a "hold" rating and a letter grade of C+ at TheStreet Ratings because of the company's largely solid financial position with reasonable debt levels by most measures and expanding profit margins, which offsets deteriorating net income, weak operating cash flow and disappointing return on equity.
You can view the full analysis from the report here: TIF
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.