Insight Report 3 minutes PremiumTIFFANY & CO. (TIF) 2Q16 RESULTS: LOWER COSTS, HIGHER PRICES DRIVE BETTER MARGINS Coresight Research August 26, 2016 Executive Summary Tiffany & Company reported 2Q16 adjusted EPS of $0.84 versus the consensus estimate of $0.72. Total revenue was $931.6 million versus expectations of $932.7 million. Comps were down 9% on a global basis, driven by a 9% decline in the Americas, a 9% decline in the Asia-Pacific region, a 3% decline in Japan and a 13% decline in Europe. Other comps were down 22%, driven by lower sales in the UAE and an increase in wholesale diamonds. Management attributed the declines in sales to both local customers and foreign tourists in most regions. Management reiterated its prior guidance. EPS for the full year is expected to decline by a mid-single-digit percentage from last year’s $3.83. Sales are expected to decline by a low-single-digit rate year over year. This report is for paying subscribers only. Already a paying subscriber? Please log in to see the entire report.If you wish to learn more about our subscription plans and become a paying subscriber, click here. This document was generated for Other research you may be interested in: Coresight Bites: Dollar Stores’ Growing Momentum in GroceryThe State of AI: Revisiting 2023 and Looking Ahead to 2024Off-Price and Dollar-Store Shopping in Focus—TJX and Dollar Tree Rank as Top Choices: US Consumer Survey InsightsShoppers Enter “Summer Mode”: US Consumer Tracker 2023, Week 26