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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 24, 2015
10:06 EDTTIFHigh option volume stocks
High option volume stocks: BDBD UNXL NVS SEDG BLOX GPRE SIG BPL TIF DY
09:24 EDTTIFOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Baozun (BZUN), up 7.3%... Analog Devices (ADI), up 4.3%. ALSO HIGHER: Boulder Brands (BDBD), up 8.4% after Pinnacle Foods (PF) announced that it will acquire the company for $11.00 per share... Sunedison (SUNE), up 18% after the Economic Times reported that the company plans place 400MW of upcoming solar capacity on sale... Avon Products (AVP), up 7.5% after being upgraded to Buy from Neutral at Citi... Valeant (VRX), up 2.1% after Pershing Square increases stake in the company to 9.9%... Xerox (XRX), up 2.3% after Carl Icahn reported a 7.13% stake in the company. DOWN AFTER EARNINGS: Signet Jewelers (SIG), down 6.2%... Tiffany (TIF), down 2.9%... Brocade Communications (BRCD), down 7.2%. ALSO LOWER: UniPixel (UNXL), down 44.6% after the company prices a common stock and warrant offering... U.S. Steel (X), down 4% after announcing that it will idle its Granite City Works operations.
08:55 EDTTIFTiffany says saw 'substantial' decline in foreign tourist spending in Q3
Says saw "substantial" decline in foreign tourist spending in Q3, with "pronounced weakness" in New York area, as well as other tourist-related markets on the East and West Coasts and Hawaii. Says in the process of some "major" U.S. store renovations. Says on track to increase company operated stores by a net of approximately 12 stores this year. Says longer-term plans for worldwide square footage growth closer to 2% per year. Expects "modest" increase in gross margin for FY. Sees FY effective tax rate similar to last year's 34.4%. Says "well positioned" for holiday season. Says macro environment in near-term remains "uncertain" in Americas, other areas. Comments taken from the Q3 earnings conference call. Tiffany & Co is down 2.71% in pre-market trading.
08:12 EDTTIFTiffany CEO says strong dollar put pressure on Q3 results
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06:43 EDTTIFTiffany sees FY16 EPS to be 5%-10% below FY15 EPS, consensus $4.04
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06:42 EDTTIFTiffany reports Q3 EPS excluding items 76c, consensus 75c
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November 23, 2015
15:28 EDTTIFNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Analog Devices (ADI), consensus 83c... Hormel Foods (HRL), consensus 69c... Dollar Tree (DLTR), consensus 53c... Campbell Soup (CPB), consensus 76c... Signet Jewelers (SIG), consensus 39c... Tiffany (TIF), consensus 75c... Valspar (VAL), consensus $1.31... Patterson Companies (PDCO), consensus 60c... Eaton Vance (EV), consensus 59c...Burlington Stores (BURL), consensus 23c... Cracker Barrel (CBRL), consensus $1.59.
14:50 EDTTIFTiffany technical comments before earnings
Expectations for earnings are relatively low, with price not far from the 52-week low at $73.09. If the news is a bearish disappointment, the current downtrend is likely to continue. A test of the 52-week low in that event would seem highly probable. Next support below would be at $70.77 and then at $65.92. If the news is a bullish surprise, there could be a stronger than normal response given where expectations are set. Next resistance above the current price of $75.90 would be at $80.07. On a breakout above the $80 area, resistance levels to watch as potential upside objectives would be at $81.91 and then at $86.48.
12:40 EDTTIFTiffany volatility elevated into Q3 and outlook
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November 18, 2015
10:02 EDTTIFHigh option volume stocks: CIT TDC MAR JNK EIX TIF NBG DSX FCS ARG
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07:59 EDTTIFTiffany price target lowered to $90 from $97 at Cowen
Cowen lowered its price target on Tiffany to $90 from $97 citing near term caution on global macro conditions. The firm remains positive longer term citing product innovation, geographic expansion of it store base and improving CRM capabilities. Cowen reiterated its Outperform rating on Tiffany shares.
November 17, 2015
10:20 EDTTIFOptions with increasing implied volatility
Options with increasing implied volatility: SGMS HZNP CSC ULTA RH BURL GME AEO BBRY TIF

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