LONDON, UK / ACCESSWIRE / September 25, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Tiffany & Co. (NYSE: TIF), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=TIF. The Company announced on September 22, 2017, that the Company's Board of Directors has elected Roger Farah as Chairman, effective October 02, 2017. For immediate access to our complimentary reports, including today's coverage, register for free now at:
At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on TIF. Go directly to your stock of interest and access today's free coverage at:
Part of the Shake-Up
Farah joined Tiffany's Board in March 2017. The appointment of Roger Farah can be considered as part of a management shake-up to revitalize sales at Tiffany, and pushed by activist investor Jana Partners, which together with Francesco Trapani, owns approximately 5.1% of the Company.
On February 21, 2017, Tiffany and Jana Partners LLC announced agreements pursuant to which Tiffany will appoint three new Independent Directors to its Board of Directors: (i) Roger Farah, (ii) James Lillie, and (iii) Francesco Trapani, effective no later than March 06, 2017.
On July 13, 2017, Tiffany announced that its Board of Directors had unanimously named Alessandro Bogliolo as the Company's next Chief Executive Officer (CEO). He is expected to assume the role by October 02, 2017, and upon joining the Company, will also join the Board of Directors.
Bogliolo, 52, is a veteran luxury industry executive who previously served for 16 years at Bulgari SpA, including in the roles of Chief Operating Officer (COO) and Executive Vice President, Jewelry, Watches & Accessories. Most recently, he has served as the CEO of global apparel and accessories Company Diesel SpA, where he has led the Company's efforts to revitalize its brand and enhance customer experience.
About Roger Farah
Roger N. Farah, 64, has served as the Co-CEO and as a member of the Board of Tory Burch LLC since September 2014. Farah has over 40 years of experience in the lifestyle products and retailing sectors. He was a member of the Board of Ralph Lauren Corp. from 2000 to 2014, where he also served as President and COO from 2000 to 2013 and as Executive Vice Chairman from November 2013 to May 2014. Farah holds a B.S. in Economics from the University of Pennsylvania, Wharton School of Business.
Farah will replace Michael J. Kowalski who has been Chairman since 2002. Kowalski joined the Board in 1995 and will remain a Director. In addition, Kowalski, who has been CEO from 1999 until his retirement in March 2015, and Interim CEO since February 2017, will relinquish that title when the Company's newly-appointed CEO, Alessandro Bogliolo, joins the Company in October.
"Roger has significant experience as a leader in the luxury retail industry, and I and my fellow Directors value tremendously his expertise and insight which have been apparent during his time on the Board. With the appointment of Alessandro as our new CEO, and under Roger's leadership on the Board, I believe we are well positioned to execute on strategies to drive comparable store sales growth and stronger earnings growth in the longer-term."
About Tiffany & Co.
Tiffany is an internationally-renowned jeweler founded in New York in 1837. Through its subsidiaries, Tiffany manufactures products and operates TIFFANY & CO. retail stores worldwide, and also engages in direct selling through Internet, catalogs, and business gift operations.
Last Close Stock Review
At the closing bell, on Friday, September 22, 2017, Tiffany's stock dropped 2.24%, ending the trading session at $87.84. A total volume of 2.94 million shares have exchanged hands, which was higher than the 3-month average volume of 1.54 million shares. The Company's stock price surged 20.64% in the previous twelve months. Moreover, the stock rallied 13.44% since the start of the year. The stock is trading at a PE ratio of 23.80 and has a dividend yield of 2.28%. The stock currently has a market cap of $11.01 billion.
Pro-Trader Daily (Pro-TD) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. PRO-TD has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles, and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.
PRO-TD has not been compensated; directly or indirectly; for producing or publishing this document.
PRESS RELEASE PROCEDURES:
The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email firstname.lastname@example.org. Rohit Tuli, a CFA® charter-holder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by PRO-TD. PRO-TD is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.
PRO-TD, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. PRO-TD, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, PRO-TD, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither PRO-TD nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://protraderdaily.com/disclaimer/.
For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:
Phone number: (917) 341.4653
Office Address: Mainzer Landstrasse 50 Frankfurt am Main, Germany 60325
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
SOURCE: Pro-Trader Daily