|Bid||91.98 x 1400|
|Ask||92.13 x 1000|
|Day's Range||91.62 - 92.41|
|52 Week Range||73.04 - 130.62|
|Beta (3Y Monthly)||1.46|
|PE Ratio (TTM)||20.10|
|Earnings Date||Dec 5, 2019|
|Forward Dividend & Yield||2.32 (2.54%)|
|1y Target Est||103.70|
Sep.20 -- Tiffany & Co. is planning to open more stores in mainland China as the weak yuan deters Chinese consumers from spending overseas and they shift their luxury buying back home. Bloomberg's Selina Wang reports from Shanghai at the company's largest-ever exhibition.
(Bloomberg) -- Tiffany & Co. is planning to open more stores in mainland China as the weak yuan deters Chinese consumers from spending overseas and they shift their luxury buying back home.Currency fluctuations have had “an influence on the intention of Chinese to buy abroad,” CEO Alessandro Bogliogo said in an interview with Bloomberg Television in Shanghai on Thursday. “Conversely, we have seen a big increase in sales in mainland China.”The luxury jeweler plans to open more stores on the mainland, Bogliolo said, including one in the Beijing airport in a few weeks. Tiffany plans to make its Shanghai flagship store its most important outlet worldwide after its iconic New York City location, he said. Tiffany also has a store in Hong Kong, where business has been disrupted by ongoing street protests.Sectors ranging from tourism to luxury goods that relied heavily on Chinese spending abroad are slumping as the yuan depreciates and the ongoing U.S.-China trade war weighs on consumer confidence. From quieter beaches in Southeast Asia to shorter lines at luxury goods stores in Paris and New York, the pullback in Chinese tourist spending is being felt across the world and companies are having to find other ways to court the world’s biggest pool of consumers.Bali Beaches, Thai Temples Go Quiet as Chinese Stay at Home Tiffany’s U.S. sales to international travelers fell by more than 25% in the first quarter, even before China’s tourism ministry issued a travel warning in June over visiting the U.S.To keep prices competitive, the company will also absorb tariffs on its jewelry manufactured in the U.S. and exported to China, rather than pass the increases on to customers, Bogliogo said.“There is for sure pressure on margin, but consider that it’s only a percentage of our sales,” he said, adding that the company will find internal measures to mitigate the cost increase.\--With assistance from Kim Bhasin.To contact the reporters on this story: Jinshan Hong in Hong Kong at firstname.lastname@example.org;Selina Wang in China at email@example.comTo contact the editor responsible for this story: Rachel Chang at firstname.lastname@example.orgFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Tiffany & Co. (TIF) announced today the launch of the brand’s latest fragrances, Tiffany & Love for Him and Tiffany & Love for Her, produced and distributed by Coty Inc. (COTY), and debuting globally in October 2019. Tiffany & Love is the next chapter in perfumery for Tiffany & Co., and honors the brand’s legacy of celebrating love and commitment. This is the brand’s first exploration into the dual fragrance category, and the inaugural launch of men’s fragrance under the creative direction of Reed Krakoff, chief artistic officer, Tiffany & Co.
Tiffany & Co. said during its Wednesday earnings call that the ongoing protests in Hong Kong are having an impact on its business, driving mixed results during the second quarter. Sales fell 3% to $1.05 billion. Hong Kong was its fourth largest market, by sales, for the period. Tiffany & Co. (TIF) has 10 stores in Hong Kong.
The tug-of-war continues. The bulls won Wednesday's contest, sending the S&P 500 higher. The action marks the seventh straight trading day stocks have logged a reversal of the prior day's action though, and the market remains squarely between major support and resistance levels.Source: Shutterstock Advanced Micro Devices (NASDAQ:AMD) carried more than its fair share of the weight, advancing nearly 2% and followed closely by the 1.4% gain Bank of America (NYSE:BAC) shares logged. AMD wasn't up for any particular reason other than it tends to move in the same direction as the market … just more so. BofA was up for largely the same reason, though a glimmer of hope in the interest rate front may have helped Wednesday's move.They weren't all winners though. Autodesk (NASDAQ:ADSK) weighed the market down, losing nearly 7% of its value after an earnings warning prompted Bank of America to downgrade ADSK to "Underperform."InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 7 Stocks to Buy Down 10% in the Past Week As for names worth a closer inspection headed into today's action though, it's the stock charts of Tiffany & Co. (NYSE:TIF), Regions Financial (NYSE:RF) and Arconic (NYSE:ARNC) that are of the most interest. Here's why. Regions Financial (RF)With nothing more than a quick glance, Regions Financial shares just look like a choppy mess. The stock has been as low as $12.40 and as high as $17.90 within the past year, but at its current price of $14.10, it's right where it was as of mid-December.There has been a quiet method to the madness the whole time though. RF stock has been working its way toward a breakout move -- probably a bullish one -- and proverbially fueling the tank to make a prolonged move once it's triggered. The trick is pulling the trigger. * Click to EnlargeIt has not been terribly well organized of late, but if you can back out to the weekly chart, the key lows since December of last year (including this month's) have been prompted by a clear floor going back to 2016. * Although not with perfection, the lows have been getting generally higher and the highs have been getting generally lower. This compression acts like a coiling spring. * The trigger that will unleash the coil could be the combination of the stock's move back above all the key moving average, and/or the purple 50-day average line's cross back above the white 200-day moving average. Arconic (ARNC)Commodities-driven stocks are tough to handicap. Not only are they subject to fluctuations in global economic strength, there are supply and demand fluctuations that make them perpetual moving targets. That's doubly the case right now, given the ongoing tariff war between China and the United States, which has specifically put industrial metals into the middle of the political bickering.The fact of the matter is, however, the shape of the Arconic chart suggests the specialty metals company is working its way into something fundamentally spectacular. It just needs one more good "oomph" to reach that tipping point. * 10 Best Dividend Stocks to Buy for the Rest of 2019 and Beyond * Click to EnlargeThe make-or-break line in question is the line that connects the sequentially lower highs starting with the late-June peak. It's marked as a red dash on both stock charts, and was being tested yesterday. * It's more evident in the weekly timeframe than the daily, but the bearish channel that worked against ARNC since 2015 has been snapped and replaced by a new rising support line plotted in blue on both stock charts. * The likelihood of one last bullish thrust to get Arconic over its hump is high, given the amount of bullish volume that has taken shape just this week. Tiffany & Co. (TIF)Lastly, it needs a clear sign of follow-through, but yesterday's action from Tiffany & Co. shares has thus far given some of the tell-tale signs of a reversal out of a downtrend and into an uptrend. How far any rebound effort might go is in question, to be sure, but given the context, TIF stick is most definitely a name to keep an eye on. Wednesday may have been a key capitulation. * Click to EnlargeChief among the signs of a capitulation are the major intraday swing from a terrible open to an impressive 3% gain by the close on a decidedly strong volume surge. These "outside days" that completely engulf the previous bar generally indicate a huge transition in sentiment. * Bolstering the bullish case is the fact that the bounce is starting to take shape after the weekly chart's RSI indicator reached an oversold condition. The last couple of times this happened, Tiffany roared. * This week's brush of a long-standing support line, plotted in yellow, also suggests there's a strong pushoff point to utilize. * The key, however, will be at least one or two days' worth of follow-through. TIF stock, as solid as yesterday's move was, still hasn't crossed back above the 20-day moving average line plotted in blue.As of this writing, James Brumley did not hold a position in any of the aforementioned securities. You can learn more about James at his site, jamesbrumley.com, or follow him on Twitter, at @jbrumley. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Tech Industry Dividend Stocks for Growth and Income * 7 Stocks the Insiders Are Buying on Sale * 7 of the Worst Stocks on Wall Street The post 3 Big Stock Charts for Thursday: Tiffany & Co., Arconic and Regions Financial appeared first on InvestorPlace.
Tiffany and Company (TIF) shares jumped over 2% in trading Wednesday after the company reported better-than-expected earnings results.
On Tuesday we saw stocks open higher and turn lower. On Wednesday though, it was just the opposite. Equities took any early stumble in morning trade, but were able to shake off the losses and turn higher. While the rhetoric hasn't been great, the market has been holding up so far this month. Let's look at a few top stock trades. Top Stock Trades for Tomorrow 1: VeevaVeeva (NASDAQ:VEEV) reported some awesome quarterly results, but saw its stock selloff despite the solid update.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 10 Companies Using AI to Grow In any regard, $155 held as support, a key level that's been in play for months now. On the downside, that is now the level to watch. On the upside, see that VEEV can reclaim the 50-day moving average.If it can and it takes out Wednesday's high, look for a potential run to $175. Above that and new highs are possible. Top Stock Trades for Tomorrow 2: Canopy GrowthWhat a rough ride it's been for Canopy Growth (NYSE:CGC). Fortunately for InvestorPlace readers, we've been flagging the breakdown in CGC and many other cannabis plays for some time now.While the rally is impressive so far today, CGC investors should realize the stock is still locked in a downtrend. A move over $25 would launch CGC out of that channel, but a close over the 20-day would be even more promising.If it can do that, a gap-fill back up toward $32 is on the table. If it remains channel-bound, new lows are possible. Top Stock Trades for Tomorrow 3: Bank of AmericaBank of America (NYSE:BAC) and other bank stocks were quick to rally off their opening lows on Wednesday, jumping higher on the day despite worries over rates, yield curves and recessions.It's a good sign for bulls, particularly if the group can build any sort of upside momentum. BAC stock is flirting with such a move, as it peeks its head over downtrend resistance (blue line). The stock has been putting in lower highs all month and an end to that trend would be great news.If bulls can sustain some upside momentum, it may take BAC to the 200-day moving average near $28, and possibly higher. Remember, a month ago BAC stock was trading near $31.The MACD is turning in bulls' favor (blue circle), but a close below $26 would be a huge red flag. Top Stock Trades for Tomorrow 4: TiffanyAfter turning lower in morning trade, Tiffany & Co. (NYSE:TIF) is putting together an impressive post-earnings reversal. However, bulls need to see TIF close north of $88.That will put Tiffany over the 200-week and 10-week moving averages, as well as current downtrend resistance (blue line). Over this range puts the 50-week moving average in play.If resistance holds TIF in check, look to see that $80 holds as support. Below this level opens up the door to the low-$70s. Top Stock Trades for Tomorrow 5: CotyUp 5% on Wednesday, Coty (NYSE:COTY) is enjoying a decent post-earnings rally. However, it does find itself at an important juncture. Shares need to close over $9.50, which is both a significant level over the past year, as well as the 20-day moving average.Right in the middle of its range, COTY has been as low at $5.80 and as high as $14. A move over $9.50 puts its 200-day moving average on the table and can allow investors to start repairing some of COTY's technical damage, putting higher prices in play if it can build support on top of current resistance. * 7 Tech Industry Dividend Stocks for Growth and Income If price is rejected near $9.50, it may keep downtrend resistance and lower prices in play.Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret Kenwell is long BAC. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Tech Industry Dividend Stocks for Growth and Income * 7 Stocks the Insiders Are Buying on Sale * 7 of the Worst Stocks on Wall Street The post 5 Top Stock Trades for Thursday: VEEV, CGC, BAC, TIF appeared first on InvestorPlace.
The market bounces back while Erique and Danny talk about Whiskey, Johnson and Johnson and continued trade war. The portfolios stay put while showing a lot of green, see what happens on this episode of Paper Traders.
(Bloomberg) -- Tiffany & Co. is entering India after years eyeing the market’s rising middle class shoppers. The jeweler’s top executive says the time is finally right.“That’s a big market, not only for the number of people, but also because it’s a very fast-growing middle class that we know is a driver of growth in luxury,” Chief Executive Officer Alessandro Bogliolo said in an interview Wednesday. “I think it’s the appropriate time now.”India is the world’s second-biggest gold jewelry market, and sales of gold and diamond jewelry are expected to grow annually by as much as 7% in the next three to five years, according to the nation’s Gem & Jewellery Export Promotion Council. Much of the retail business comes from small local shops that sell traditional ornaments.Tiffany will start with two stores -- one in New Delhi and another in Mumbai -- that will carry the same assortment of silver and gold bracelets, necklaces and rings available in other markets, along with higher-end items with gemstones. Tiffany’s goal is to sell jewelry to members of the emerging middle class that are global travelers familiar with the label’s most popular designs and Western style, Bogliolo said.“India is a market with a huge local tradition for jewelry but our offering is not to compete with local designers, but more to bring the international appeal of the brand,” he said.Local FocusAround the world, Tiffany has refocused its efforts on increasing sales in local markets, rather than relying on tourist flows that have become erratic over the past several quarters. Weak tourist spending in the U.S. has taken a toll on the company, driven by a strengthening dollar and trade tensions between the U.S. and China. Meanwhile, in Hong Kong, street protests have disrupted stores and hindered sales.Tiffany’s entry into India will be a joint-venture with Reliance Brands, the conglomerate owned by India’s richest man Mukesh Ambani. Reliance has forged partnerships with numerous international luxury brands with ambitions in India, including Coach, Michael Kors, Burberry, Bottega Veneta and Hugo Boss. Bogliolo said it’s the most important retail operator in the country.It took so long for Tiffany to come to India because it sells only through its own stores, rather than in local jewelry shops and dealers. It has 325 directly-owned retail locations around the world.Bogliolo said the retail environment in India has been “quite volatile” over the past decade or so, but in recent years the market has become a clear-enough destination for luxury shopping for Tiffany to spend the cash and take the leap.“There is a certain critical mass that’s needed to open a Tiffany store,” he said. “It’s quite an important investment in inventory, because of all the diamonds.”To contact the reporter on this story: Kim Bhasin in New York at email@example.comTo contact the editors responsible for this story: Anne Riley Moffat at firstname.lastname@example.org, Lisa Wolfson, Craig GiammonaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- Tiffany & Co.’s quarterly profit smashed Wall Street estimates, but concerns about foreign tourist spending persist and unrest in Hong Kong threaten to crimp the outlook for the year.Profit of $1.12 a share in the second quarter topped analysts’ average $1.05 estimate, sending the stock up as much as 4.7%. At the same time, same-store sales, a key retail metric, fell 3% globally, excluding currency swings, Tiffany said Wednesday. Analysts had anticipated a 1.5% drop, according to Consensus Metrix.It was more of the same the previous quarter for the New York-based jeweler, which has cited dramatically lower spending by international tourists to the U.S. over the past several periods. These shoppers are a crucial source of sales for Tiffany’s stores, including the flagship in New York, and the company has tried to attract them despite a strengthening dollar and trade tensions between the U.S. and China.“We are committed to reinvigorating the business the right way,” Chief Executive Officer Alessandro Bogliolo said on a conference call with analysts. “It may admittedly be a bit hard to see how the strategic investment decisions we have made so far are positively impacting the business,” due to a shift in timing for new product launches, he said.With fewer foreign tourists visiting its U.S. locations, the jeweler moved some of its most expensive items to where consumers are: Beijing and Shanghai, where it sold limited quantities of special Tiffany Keys diamond pendants and Tiffany Love Bugs last quarter. The retailer is also upgrading all three greater China flagships, including Hong Kong. In Shanghai, Tiffany is seeking to relocate to “the most prominent corner location in the city,” Bogliolo said.Hong KongBusiness in Hong Kong was disrupted last quarter by the street protests, the CEO said. Mass marches opposing legislation easing extraditions to China began peacefully in June, and have widened into broader, sometimes violent, protests against Beijing’s increasing grip.“If, for example, the ongoing unrest in Hong Kong persists much longer at its current rate, we may find ourselves toward the lower end of our full-year reported sales and EPS guidance range,” Tiffany Chief Financial Officer Mark Erceg said on the call. He said that if the situation deteriorates or continues as is for the rest of the fiscal year, “we may find ourselves below the bottom end of our ranges.”Tiffany shares swung between losses and gains as the market opened Wednesday. They were up 4.2% at 11:41 a.m. in New York. The stock had risen 2.7% this year through Tuesday’s close, underperforming the benchmark S&P 500 Index.Bogliolo said he’s continuing to focus on the strategies he can control, such as marketing and operations. The brand has realigned to appeal to younger shoppers through its advertising and went on a multiyear hiring spree to integrate itself deeper into the diamond business. The company is working to accelerate new product introductions and keep a visible profile, Bogliolo said.Earlier this month, Tiffany said it would enter India for the first time through a partnership with Reliance Brands Ltd. It will open two stores to begin courting the nation’s rising middle class.To contact the reporter on this story: Kim Bhasin in New York at email@example.comTo contact the editors responsible for this story: Anne Riley Moffat at firstname.lastname@example.org, Lisa Wolfson, John J. Edwards IIIFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Although the luxury jeweler beat EPS estimates, same-store sales declined sequentially, with a negative impact from currency volatility.
The good news is that both Brown-Forman and Tiffany & Co. beat on their respective bottom lines, though neither managed to reach revenue estimates for the quarter.
Tiffany's second-quarter numbers were mixed as the company reported an EPS beat but revenue fell short of estimates. A closer look at the report signals Tiffany has a "real problem" as the company is seeing weaker sales to foreign tourists -- especially Chinese tourists visiting New York City, Nagel said. Tiffany's core business model is to cater to tourists with a large presence not only in the Big Apple but in Paris and elsewhere, the analyst said.