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Tiffany & Co. (NYSE: TIF) 2Q19 Results: Sales Miss but Management Reiterates FY19 Guidance

Executive Summary

  • Tiffany reported EPS of $1.12, down 4.3% but beating the consensus estimate of $1.04.
  • Total revenue for the quarter declined 2.5% to $1.05 billion, missing the consensus estimate of $1.06 billion. On a constant currency basis, net sales declined 1% from the prior year.
  • Comps declined 4%, 3% on a constant-currency basis.
  • For fiscal 2019, the company expects global net sales growth in the low single digits and low- to mid-single-digit EPS growth. Worldwide comps are expected to be flat compared to the prior year.

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