| Tiffany & Co. (TIF) is expected to report Q3 earnings before the market open on Wednesday, November 25 with a conference call scheduled for 8:30 am ET. Analysts are looking for a profit of 24c on revenue of $573.75M. The consensus range is 20c-27c for EPS, and revenue of $546.4M-$629.4M, according to First Call. In August, the retailer raised its FY09 EPS view to $1.65-$1.75 from prior guidance of $1.50-$1.60 vs. First Call estimates of $1.76. In October, Zacks Investment Research, which has an Outperform rating on the stock, said that the company is focusing more on smaller store formats offering "lower-priced, higher-margin products that have enhanced productivity." Tiffany has also cut its workforce and new-store openings to stop sales erosion. Citigroup analyst Kimberly Greenberg believes the retailer may gain from store closures and the widespread liquidation of other jewelers beginning in Q4. Stifel Nicolaus analysts believe Tiffany's U.S. sales may improve to a 9% decline from a 24% decline in Q2. Analysts and investors will listen for comments on the crucial holiday season, a popular time for jewelry gifts and engagements, and will look to see how well the company's flagship store performs. Tiffany & Co shares rose 51.9% during the quarter. :theflyonthewall.com |
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