Tiffany 4Q income rises less than 1%
Tiffany says its fourth-quarter net income edged up less than 1 percent, but managed to beat Wall Street predictions.
The New York-based jewelry company also says it expects its first-quarter earnings from operations will fall about 15 percent to 20 percent as a result of profitability pressures and higher marketing costs, but pick up later in the year.
For the quarter ended Jan. 31, Tiffany earned $179.6 million, or $1.40 per share. Revenue rose 4 percent to $1.24 billion.
Analysts polled by FactSet expected earnings of $1.36 per share on $1.25 billion in revenue.
For 2013, the company projected earnings of $3.43 to $3.53 per share on sales growth of 6 percent to 8 percent. Analysts expect a profit of $3.46 per share.
Sarra Sounds Off Ep. 35: EI baseball, girls lacrosse and plays of the week On the latest episode of "Sarra Sounds Off," we look at East Islip baseball's inspirational comeback story, Jared Valluzzi has the plays of the week and Tess Ferguson breaks down the top defensive players in girls lacrosse.
Sarra Sounds Off Ep. 35: EI baseball, girls lacrosse and plays of the week On the latest episode of "Sarra Sounds Off," we look at East Islip baseball's inspirational comeback story, Jared Valluzzi has the plays of the week and Tess Ferguson breaks down the top defensive players in girls lacrosse.
