TIF - Tiffany & Co.

NYSE - NYSE Delayed Price. Currency in USD
114.24
-2.79 (-2.38%)
At close: 4:00PM EDT

115.14 +0.90 (0.79%)
After hours: 7:57PM EDT

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Performance Outlook
  • Short Term
    2W - 6W
  • Mid Term
    6W - 9M
  • Long Term
    9M+
Previous Close117.03
Open117.00
Bid114.12 x 1000
Ask114.21 x 800
Day's Range112.45 - 117.68
52 Week Range78.60 - 134.42
Volume8,815,301
Avg. Volume3,042,010
Market Cap13.861B
Beta (5Y Monthly)1.46
PE Ratio (TTM)25.49
EPS (TTM)4.48
Earnings DateJun 10, 2020 - Jun 15, 2020
Forward Dividend & Yield2.32 (1.98%)
Ex-Dividend DateJun 19, 2020
1y Target Est133.92
  • LVMH Wavers on Tiffany — Gamesmanship or Cold Feet?
    WWD

    LVMH Wavers on Tiffany — Gamesmanship or Cold Feet?

    The luxury giant’s hard look at its $16.2 billion deal to buy the New York-based jeweler could lead it to a better price or no deal at all.

  • LVMH's Arnault mulls ways to renegotiate deal with Tiffany - sources
    Reuters

    LVMH's Arnault mulls ways to renegotiate deal with Tiffany - sources

    LVMH agreed to acquire Tiffany in November, but the deal has yet to close, pending regulatory approvals. Arnault said at the time Tiffany would "thrive for centuries to come" under LVMH. Arnault has been in talks with his advisers this week to identify ways to pressure Tiffany to lower the agreed price of $135 per share in cash, the sources said.

  • LVMH's Arnault mulls ways to renegotiate deal with Tiffany: sources
    Reuters

    LVMH's Arnault mulls ways to renegotiate deal with Tiffany: sources

    LVMH agreed to acquire Tiffany in November, but the deal has yet to close, pending regulatory approvals. Arnault said at the time Tiffany would "thrive for centuries to come" under LVMH. Arnault has been in talks with his advisers this week to identify ways to pressure Tiffany to lower the agreed price of $135 per share in cash, the sources said.

  • Financial Times

    Markets Now - Wednesday 3rd June 2020

    Perhaps the razing of America is being seen as a stimulus measure for infrastructure investment. Latest newsflow around the EU Recovery Fund is encouraging: At the time, we highlighted that French-German proposals for the EU Recovery Fund were potentially a significant moment for the Eurozone and its asset markets.

  • Tiffany Dives After Report That Deal With LVMH Is Uncertain
    Bloomberg

    Tiffany Dives After Report That Deal With LVMH Is Uncertain

    (Bloomberg) -- Tiffany & Co. plunged after Women’s Wear Daily reported LVMH’s $16 billion deal to buy the jeweler is uncertain as the U.S. economy faces widespread upheaval.Board members of the French luxury giant arranged to meet Tuesday to discuss the planned acquisition, WWD reported, citing unidentified individuals. Directors are concerned about the Covid-19 pandemic that has disrupted the U.S. economy and growing unrest over police violence, the fashion publication said. They also expressed worries over Tiffany’s ability to cover its debt covenants at the end of the transaction.Tiffany shares fell 8.9% to $117.03 Tuesday, the steepest intraday drop since 2015. LVMH, which has agreed to pay $135 a share for Tiffany, was little changed in Paris trading Wednesday.Tiffany’s representatives didn’t immediately respond to a request for comment from Bloomberg. An LVMH representative declined to comment.“I would imagine it is normal that LVMH internally discusses the proposed Tiffany acquisition -- given the size of the deal, the Covid-19 situation and the recent social unrest in the U.S.,” wrote Luca Solca, an analyst at Sanford C. Bernstein. “Having said that, the Tiffany takeover would provide a unique strategic opportunity to LVMH, boosting its position in branded jewelry.”Solca said it’s an “open question” whether LVMH would try to renegotiate better terms. Tiffany has dropped 12% since the French company agreed to the purchase, the biggest in the luxury-goods industry, in November. The deal was supposed to close in the middle of this year.The economic fallout from the pandemic has disrupted or derailed a number of prominent deals, including L Brands Inc.’s agreement to sell a majority stake in Victoria’s Secret to private-equity firm Sycamore Partners. If the LVMH-Tiffany tie-up falls apart, it would be one of the largest so far related to Covid-19.The New York-based jeweler’s website says that as of June 1, its stores are temporarily closed until further notice. The pandemic has also affected the company’s ability to offer next-day and express shipping. The stores went dark in mid-March due to the pandemic shutdown. Some of its locations have had their windows boarded up as protests roil cities across the U.S.Virus EffectLVMH’s planned purchase of has been the subject of speculation after the coronavirus pandemic altered the consumer landscape across the globe.For the French company, the deal originally made strategic sense: Buying U.S.-based Tiffany would help the Louis Vuitton owner challenge Cartier parent Richemont for dominance in the global jewelry business. But as Americans curb discretionary spending and retail stores temporarily close their doors, growing exposure to the U.S. market doesn’t have quite the same appeal as it did when the tie-up was announced last November.Prior to the virus lockdown, the 183-year-old Tiffany was struggling with a lull in international tourist traffic and civil unrest in Hong Kong. In the U.S., management has worked to attract younger clients, though sales have been slow to rebound. Chief Executive Officer Alessandro Bogliolo made China a priority, counting on the market as a growth engine.(Updates with deal price in third paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • LVMH Wants To Reconsider Buying Tiffany Amid Worsening US Conditions
    Benzinga

    LVMH Wants To Reconsider Buying Tiffany Amid Worsening US Conditions

    French luxury group LVMH Moet Hennessy Louis Vuitton SE (OTC: LVMUY) whose interests span from watches and jewelry to wine and spirits is reconsidering its decision to buy Tiffany & Co. (NYSE: TIF) due to the deteriorating situation in the United States market.What Happened The $16.2 billion takeover of Tiffany by LVMH is mired in uncertainty as concerns mount over the impact of the coronavirus pandemic and the resultant economic damages as well as internal unrest in the U.S. over the killing of George Floyd at the hands of the police, reported WWD, a fashion trade publication. A board meeting of the LVMH was held in Paris on Tuesday night to discuss the takeover amid the worsening situation in the U.S., which is Tiffany's largest market. Tiffany shares slumped by nearly 9% after the news.Why It Matters Board members raised concerns about the ability of Tiffany to cover its debt covenants post-takeover due to be completed mid-2020, reported WWD.The board of LVMH remains undecided on completing the takeover deal, but members were of the view that the deal should be reconsidered.Tiffany shareholders have approved the deal in February. Last November, LVMH had agreed to acquire the jeweler for $135 a share. Price Action On Tuesday, Tiffany shares closed lower by 8.93% at $117.03. LVMH OTC shares closed 1.41% higher at $86.39.Image Credit: Wikimedia.See more from Benzinga * Amazon Plans 'Biggest Sale In The Sky' In June To Support Sellers Affected By Pandemic * Zuckerberg Tells Facebook Employees He's Not Going To Moderate Trump * China To Build B Mega Petrochemical Project In Its Shandong Province Oil Hub(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • LVMH's takeover of Tiffany seen as uncertain: WWD
    Reuters

    LVMH's takeover of Tiffany seen as uncertain: WWD

    Tiffany's shares closed down nearly 9% after the news. LVMH's board called a meeting in Paris on Tuesday night to discuss the matter, WWD reported, citing sources. LVMH's board is concerned about the COVID-19 pandemic and protests linked to the death of George Floyd at the hands of Minneapolis police, according to the report.

  • LVMH-Tiffany Deal Seen as Uncertain: Sources
    WWD

    LVMH-Tiffany Deal Seen as Uncertain: Sources

    The board of the luxury giant met in Paris specifically to discuss the proposed deal amid a deteriorating situation in the U.S. market.

  • Barrons.com

    Tiffany Stock Is Slipping After Credit Suisse Says the Deal With LVMH Isn’t Certain

    A report from Credit Suisse warned that the jeweler’s shares could fall by nearly half if LVMH Moët Hennessy Louis Vuitton rethinks its acquisition.

  • Tiffany (TIF) Stock Falls as Deal With LVMH Looks Uncertain
    Zacks

    Tiffany (TIF) Stock Falls as Deal With LVMH Looks Uncertain

    Tiffany (TIF) stock loses 9% on reports stating that the LVMH deal could fall through on U.S. economic fallout from COVID-19 and the ongoing social unrest.

  • $16 Billion Is a Lot to Pay For a Diamond Ring Right Now
    Bloomberg

    $16 Billion Is a Lot to Pay For a Diamond Ring Right Now

    (Bloomberg Opinion) -- Even the most upmarket buyers like to get their money’s worth. No wonder LVMH Moet Hennessy Louis Vuitton SE is having second thoughts about its $16 billion takeover of Tiffany & Co., according to Women’s Wear Daily.Walking away from the deal, which is due to close shortly, wouldn’t be ideal after all the fanfare made about the merits of buying the iconic U.S. jewelry brand. But it would be remiss of LVMH Chairman Bernard Arnault not to try to get better terms — particularly since he has the advantage.The world has changed since the takeover was agreed in November. The Covid-19 pandemic has dented luxury goods demand with shops shuttered and sweatpants-wearing consumers locked down with nowhere to go. Industrywide sales could fall as much as 35% this year, according to Bain & Co. The civil unrest in the U.S. is another risk, particularly for an American brand.So, depending on the fine print in the purchase agreement, Arnault could try to wriggle out altogether. There are doubts that it will go ahead as planned. Tiffany shares closed at $117 on Tuesday, significantly lower than LVMH’s $135 offer price. But dropping the deal now, particularly if it led to a lengthy legal battle, could risk some reputational damage. It could also signal that LVMH, the world’s dominant luxury conglomerate, built on a history of strategic, successful acquisitions, isn’t so resilient after all. True, even after the pandemic, LVMH’s market capitalization is close to 200 billion euros ($224 billion). So Tiffany is a relatively modest transaction. But the French fashion giant won’t have escaped the maelstrom, not only in luxury goods, but in cosmetics, with its Sephora chain, and in duty-free travel retail, with DFS.Tiffany is still a prized asset, with huge potential if it can be elevated from simply affordable luxury to mega-bling. So Arnault is most likely to try to burnish his standing as a dealmaker by extracting better terms for his shareholders. Especially since Tiffany already needed some polish to achieve its potential, and the task will be even more difficult now. It will require significant investment both in the company’s product range and marketing.Against this backdrop, trying to save on the purchase price looks sensible. A precedent has already been set by Sycamore Partners, which tried to extract itself from its $525 million deal to buy lingerie brand Victoria’s Secret. In the end, L Brands Inc. ended up terminating the agreement. But it’s hard to see Tiffany doing this — it’s unlikely to want to pursue its turnaround plan in a such a difficult environment without a muscular parent. Given the luxury slump, it’s not obvious that Richemont or Gucci-owner Kering SA would step in.Of course, Arnault could take his chances, withdrawing now — if he can — with the aim of trying to buy Tiffany again later at a lower price. But that’s a risky strategy. Another friendly deal wouldn’t likely be forthcoming, and often once a trophy asset is lost, it doesn’t become available again.Arnault would be better off holding onto this bauble, and, like many luxury shoppers right now, trying to negotiate a hefty discount.This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Andrea Felsted is a Bloomberg Opinion columnist covering the consumer and retail industries. She previously worked at the Financial Times.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • LVMH's takeover of Tiffany seen as uncertain - WWD
    Reuters

    LVMH's takeover of Tiffany seen as uncertain - WWD

    Tiffany's shares closed down nearly 9% after the news. LVMH's board called a meeting in Paris on Tuesday night to discuss the matter, WWD reported, citing sources. LVMH's board is concerned about the COVID-19 pandemic and protests linked to the death of George Floyd at the hands of Minneapolis police, according to the report.

  • Michael Price Buys Taubman, Sells Campbell
    GuruFocus.com

    Michael Price Buys Taubman, Sells Campbell

    Top 1st-quarter trades of MFP Investors Continue reading...

  • John Paulson Adds 2 Stocks to Portfolio, Boosts Tiffany
    GuruFocus.com

    John Paulson Adds 2 Stocks to Portfolio, Boosts Tiffany

    Merger arbitrage specialist releases first-quarter portfolio Continue reading...

  • Hedge Funds Have Never Been This Bullish On Tiffany & Co. (TIF)
    Insider Monkey

    Hedge Funds Have Never Been This Bullish On Tiffany & Co. (TIF)

    In this article we will check out the progression of hedge fund sentiment towards Tiffany & Co. (NYSE:TIF) and determine whether it is a good investment right now. We at Insider Monkey like to examine what billionaires and hedge funds think of a company before spending days of research on it. Given their 2 and […]

  • Tiffany Declares Regular Quarterly Dividend
    Business Wire

    Tiffany Declares Regular Quarterly Dividend

    The Board of Directors of Tiffany & Co. (NYSE: TIF) has declared a regular quarterly dividend of $0.58 per share of Common Stock. The dividend will be paid on July 10, 2020 to shareholders of record on June 22, 2020. Future dividends are subject to declaration by the directors.

  • Tiffany to Hold Virtual 2020 Annual Shareholder Meeting
    Business Wire

    Tiffany to Hold Virtual 2020 Annual Shareholder Meeting

    Tiffany & Co. (NYSE: TIF) (the "Company") announced today that it is changing the format of its 2020 annual meeting of shareholders (the "2020 Annual Meeting") from an in-person meeting to a virtual one due to public health concerns surrounding the outbreak of the novel coronavirus (COVID-19) and to prioritize the health and well-being of its employees, shareholders and other community members. The original date and time of the 2020 Annual Meeting, as well as the matters to be voted on at the 2020 Annual Meeting, remain unchanged.

  • Microsoft, Visa and others worth combined $11.5 trillion want Congress to include climate in COVID-19 recovery plan
    MarketWatch

    Microsoft, Visa and others worth combined $11.5 trillion want Congress to include climate in COVID-19 recovery plan

    CEOs and representatives from more than 330 businesses, including Capital One, General Mills, Microsoft, Nike, Salesforce, Visa and others are calling on bipartisan federal lawmakers to build back a better economy by infusing resilient, long-term climate solutions into future economic recovery plans.

  • Reuters

    Luxury handbags jump in price as brands make up for coronavirus hit

    Top luxury brands from Chanel to Louis Vuitton have increased prices of some of their most coveted products as they seek to make up for sales lost during weeks of coronavirus lockdowns. High-end houses have all reported brisk business in South Korea and the key Chinese market, where shops began to reopen in March, partly offsetting a slump in Europe and the United States - where restrictions are only just starting to be lifted. Chanel said on Wednesday it was increasing prices on its iconic handbags and some small leather goods by between 5% and 17% around the world as the pandemic had pushed up the cost of certain raw materials.

  • Under Fed’s new criteria, Equifax, Nasdaq and Tiffany & Co. are ‘Main Street’ companies
    MarketWatch

    Under Fed’s new criteria, Equifax, Nasdaq and Tiffany & Co. are ‘Main Street’ companies

    More than 100 companies from the S&P 500 index now meet the Federal Reserve’s expanded criteria set out Thursday for its main street credit facility to help shore up small and medium-sized businesses hit by the pandemic.

  • Moody's

    Tiffany & Co. (SAS) -- Moody's announces completion of a periodic review of ratings of Tiffany & Co.

    Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Tiffany & Co. New York, April 29, 2020 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Tiffany & Co. and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.

  • Were Hedge Funds Right About Tiffany & Co. (TIF)?
    Insider Monkey

    Were Hedge Funds Right About Tiffany & Co. (TIF)?

    We hate to say this but, we told you so. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW and predicted a US recession when the S&P 500 Index was trading at the 3150 level. We also told you to short the market and buy […]

  • A tsunami of bankruptcies are about to wash away America's retail sector
    Yahoo Finance

    A tsunami of bankruptcies are about to wash away America's retail sector

    The you know what is about to hit the fan in America's retail sector because of the coronavirus pandemic.

  • For Luxury Brands, It’s Too Early to Pop Open the Champagne
    Bloomberg

    For Luxury Brands, It’s Too Early to Pop Open the Champagne

    (Bloomberg Opinion) -- A flagship Hermes International store in Guangzhou reportedly took in $2.7 million on its first day reopening after the coronavirus lockdown, the biggest daily haul for a boutique in China, according to fashion trade bible WWD.The French luxury brand best known for its Kelly and Birkin bags may not be alone in enjoying the phenomenon that has been referred to as “revenge spending.” The term, coined to describe pent-up consumer demand in the 1980s after the poverty and chaos of the Cultural Revolution, is now being applied to splurging by Chinese shoppers as the virus recedes.LVMH, hit by a 17% decline in first-quarter sales excluding currency movements and acquisitions, said late Thursday that Chinese consumers were once again enthusiastically embracing its brands, including Louis Vuitton and Christian Dior. And my Bloomberg News colleagues reported that sales at LVMH stores on the mainland were up 50% year-on-year in the past three weeks.Cosmetics maker L’Oreal SA also pointed to a recovery in the region’s demand for beauty products. Of course, that may be a function of what’s called the “lipstick” index, where when times are tough consumers tend to buy smaller treats rather than more expensive items. But the signs do bode well for demand from Chinese consumers, who could account for 44% of luxury spending this year, according to analysts at Jefferies.Still, none of this may be enough to rescue second-quarter trading, nor the full year.First of all, there’s no guarantee that the rebound will be sustained. What’s more, during normal times the Chinese make the majority of their vanity purchases when they travel abroad. In this new post-coronavirus era, there has been an initial trend toward more domestic spending, and that could accelerate further. But bigger impulse purchases are still more likely to happen when people can finally visit cities such as Paris or Milan. With airplanes still grounded in many places and borders closed, travel is set to be severely constrained for some time, and that will be a drag on industry growth.Meanwhile, stores in Europe and the U.S. remain closed. When they finally reopen, brands will find it very difficult to compensate for fewer Chinese visitors. Massive job losses and all of the other economic hardships brought by lockdowns means they won’t be able to count on local shoppers to make up the difference. Consultants Bain & Co. estimate that global personal luxury goods sales could fall as much as 35% this year, with a mid-point scenario at 22-25%. This would be the worst decline in modern luxury industry history.Despite the inevitable industry downturn this year — one that will possibly stretch into 2021 — LVMH looks to be one of the best-placed luxury groups.With revenue of 52 billion euros ($56 billion) in 2019, more than three times that of its nearest rivals, LVMH has significant scale and a strong stable of brands, led by Louis Vuitton and Dior but also including Fendi and Celine in fashion and the Sephora beauty stores. The 10% decline in fashion and leather goods sales, excluding currency movements and acquisitions, is better than might have been expected. The company run by billionaire Bernard Arnault also has a diverse portfolio, both geographically and in terms of products, which include spirits and beauty lines too. This gives it scope to cut costs, but also, crucially, to invest when competitors may be weakened.There are some worries. For example, the $16 billion acquisition of American diamond-jewelry icon Tiffany & Co. will now be more of a challenge. (LVMH indicated on Thursday that it would still go ahead with the deal.) And it also has exposure to travel retail through major duty-free chain DFS, which may be depressed for some time.So LVMH won’t be immune from the continued disruption to luxury goods sales. But as it demonstrated in the first quarter it should be more than able to hold its own.This column does not necessarily reflect the opinion of Bloomberg LP and its owners.Andrea Felsted is a Bloomberg Opinion columnist covering the consumer and retail industries. She previously worked at the Financial Times.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.