Tiffany & Co beats by $0.01, misses on revs; lowers FY16 EPS to slightly below consensus :
- Reports Q3 (Oct) earnings of $0.76 per share, excluding items, $0.01 better than the Capital IQ Consensus of $0.75; revenues fell 2.2% year/year to $938.2 mln vs the $971.07 mln Capital IQ Consensus.
- In the Americas, on a constant-exchange-rate basis total sales and comparable store sales in the third quarter were 5% and 6% below the prior year, respectively, (compared with an 11% comparable store sales increase last year), and year-to-date total and comparable store sales declined 1% and 2%, respectively. Gross margin (gross profit as a percentage of net sales) in the third quarter rose to 60.2%, from 59.5% a year ago.
- In light of third quarter results, negative effects from the strong U.S. dollar and increased global uncertainties, co lowers guidance for FY16 EPS to be 5-10% below last year's $4.20 per diluted share (excluding the loan impairment charge in the second quarter of 2015 and a debt extinguishment charge in 2014), or ~$3.78-3.99, prior guidance down 2-5% to ~$3.99-4.1 vs. $4.03 Capital IQ Consensus Estimate.
No comments:
Post a Comment