Tiffany & Co Tops Q4 Estimates

Tiffany & Co said Q4 worldwide net sales increased 1% to $1.23 billion from the year-ago period and were above the CapIQ mean of $1.22 billion. Same-store sales were unchanged from the year-ago period. EPS, less items, fell a penny to $1.45 from last year and topped expectations for $1.38.

Tiffany said it sees FY17 worldwide sales increasing over the prior year by a low-single-digit percentage and by a mid-single-digit percentage on a constant-exchange-rate basis. Net EPS is seen increasing by a high-single-digit percentage over 2016’s $3.55 per share and by a mid-single-digit-percentage over 2016’s EPS, less items, of $3.75. Analysts’ estimates are for sales of about $4.08 billion, and EPS of $3.86.

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