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January 2, 2013
06:47 EDTTIFTiffany entered into amended agreement with Elsa Peretti on December 27
On December 27, Tiffany & Co entered into an Amended and Restated Agreement with Elsa Peretti. The Agreement amends and restates that certain agreement dated as of February 1, 1997 by and between Tiffany and Ms. Peretti.Since 1974, Tiffany has been the sole licensee for the intellectual property rights necessary to make and sell jewelry and other products under Ms. Peretti’s trademarks. In the Agreement, which largely reflects the long-standing rights and marketing and royalty obligations of the parties, Ms. Peretti grants Tiffany an exclusive license, in all of the countries in which Peretti-designed jewelry and products are currently sold, to make, have made, advertise and sell these items, which are made in conformance to Ms. Peretti’s designs and bear her trademarks. The Agreement has a term of 20 years and is terminable by Ms. Peretti only in the event of a material breach by Tiffany or upon a change of control of Tiffany or the Registrant. In consideration of the rights granted, and the obligations undertaken, by Ms. Peretti in the Agreement, Tiffany made a one-time payment in the aggregate amount of approximately $47M. Ms. Peretti will also receive royalties for use of the Peretti Intellectual Property and fees in respect of certain quality control services Ms. Peretti has committed to providing pursuant to the Agreement. The one-time payment does not serve to reduce future royalties.
News For TIF From The Last 14 Days
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November 25, 2014
09:20 EDTTIFOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Signet Jewelers (SIG), up 2.6%... Tiffany (TIF), up 4.8%... Nuance Communications (NUAN), up 5.1%... Brown Shoe (BWS), up 6.6%... Cracker Barrel (CBRL), up 3.1%... Qihoo 360 (QIHU), up 5.8%... DSW (DSW), up 7.3%. ALSO HIGHER: SinoCoking Coal (SCOK), up 27.9% after aboveground facility operating at 100% capacity. DOWN AFTER EARNINGS: Xcerra (XCRA), down 7.4%... Workday (WDAY), down 8.4%... Brocade (BRCD), down 3.8%... Post (POST), down 7.5%. ALSO LOWER: Wet Seal (WTSL), down 15.8% after announcing that it has not set a timetable for review of strategic and financial alternatives... Medgenics (MDGN), down 11.1% after 5.125M share Spot Secondary priced at $4.10... Pandora (P), down 3.7% after being downgraded to Underperform from Market Perform at FBR Capital... Cyberark Software (CYBR), down 3.7% after receiving multiple downgrades.
08:53 EDTTIFTiffany says sees 'healthy increase' in FY operating margin
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07:03 EDTTIFTiffany reaffirms FY14 EPS view $4.20-$4.30 ex-items, consensus $4.34
EPS view excludes a debt-extinguishment charge. This full year forecast is based on the following assumptions, which are approximate and may or may not prove valid: Worldwide net sales increasing by a mid-to-high-single-digit percentage; opening 10 Company-operated stores and closing two existing stores: this includes opening four in the Americas, two in Asia-Pacific, two in Japan, and one each in Europe and Russia, while closing one each in the Americas and Asia-Pacific; operating margin increasing due to a higher gross margin; interest and other expenses, net of $60M; an effective income tax rate of 35%; net inventories increasing by a high-single-digit percentage; capital expenditures of $250M versus $221M last year, largely due to incremental investments in information technology systems; and free cash flow of at least $400M when excluding the after-tax debt extinguishment charge noted above.
07:01 EDTTIFTiffany reports Q3 EPS 76c ex-items, consensus 77c
Reports Q3 revenue $959.59M, consensus $968.86M.
06:02 EDTTIFTiffany implied volatility of 34 at upper end of index mean range
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November 24, 2014
15:20 EDTTIFNotable companies reporting before tomorrow's open
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14:08 EDTTIFTiffany technical comments before earnings
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10:24 EDTTIFHigh option volume stocks
November 21, 2014
08:08 EDTTIFTiffany December call option implied volatility is at 33, December is at 30, Jan
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