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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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February 2, 2016
11:16 EDTTIFTiffany management to meet with Jefferies
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February 1, 2016
13:39 EDTTIFJP Morgan reports 6.8% passive stake in Tiffany
10:02 EDTTIFOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: AIG (AIG) downgraded at BMO Capital... ARMOUR Residential (ARR) downgraded to Underweight from Equal Weight at Barclays... Abraxas Petroleum (AXAS) downgraded to Neutral from Buy at SunTrust... Anchor BanCorp Wisconsin (ABCW) downgraded to Equal Weight from Overweight at Stephens... Ashford Hospitality Prime (AHP) downgraded to Hold from Buy at Canaccord... Ashford Hospitality (AHT) downgraded to Hold from Buy at Canaccord... Axiall (AXLL) downgraded to Neutral from Buy at Citi... Boston Private Financial (BPFH) downgraded to Neutral from Buy at SunTrust... Colliers International (CIGI) downgraded to Sector Perform from Outperform at RBC Capital... Companhia Brasileira de Distribuicao (CBD) downgraded to Neutral at Credit Suisse... Connecticut Water (CTWS) downgraded to Market Perform from Outperform at Wells Fargo... Duke Realty (DRE) downgraded on valuation, growth outlook at BMO Capital... EP Energy (EPE) downgraded to Neutral from Buy at SunTrust... Eastman Chemical (EMN) downgraded at SunTrust... Equity Residential (EQR) downgraded to Neutral from Buy at Mizuho... Genuine Parts (GPC) downgraded to Neutral from Overweight at JPMorgan... Hersha Hospitality (HT) downgraded to Hold from Buy at Canaccord... Jones Energy (JONE) downgraded to Neutral from Buy at SunTrust... Mondelez (MDLZ) downgraded to Neutral from Positive at Susquehanna... Nokia (NOK) downgraded to Hold from Buy at Canaccord... Ollie's Bargain Outlet (OLLI) downgraded to Neutral from Outperform at Credit Suisse... Oshkosh (OSK) downgraded to Hold from Buy at Drexel Hamilton... Outerwall (OUTR) downgraded on Redbox weakness at Roth Capital... PACCAR (PCAR) downgraded to Underperform from Peer Perform at Wolfe Research... Restoration Hardware (RH) downgraded to Market Perform from Outperform at Cowen... Rex Energy (REXX) downgraded to Neutral from Buy at SunTrust... Sanchez Energy (SN) downgraded to Neutral from Buy at SunTrust... SandRidge Energy (SD) downgraded to Neutral from Buy at SunTrust... Santander Consumer (SC) downgraded to Underperform from Neutral at BofA/Merrill... Tiffany (TIF) downgraded to Market Perform from Outperform at Cowen... Trex Company (TREX) downgraded to Hold from Buy at BB&T... U.S. Steel (X) downgraded to Neutral from Outperform at Macquarie... United Community Financial (UCFC) downgraded to Neutral from Outperform at Boenning & Scattergood... Xerox (XRX) downgraded to Equal Weight from Overweight at Morgan Stanley.
09:24 EDTTIFTiffany's IDR downgraded by Fitch to BBB+; outlook Stable
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06:22 EDTTIFRestoration Hardware downgraded to Market Perform from Outperform at Cowen
Cowen analyst Oliver Chen downgraded Restoration Hardware (RH) to Market Perform saying a slowdown in high-end consumer spending brings risk to 2016 estimates. The analyst cut his price target for the shares to $64 from $105. Chen also downgraded Tiffany (TIF) this morning.
06:18 EDTTIFTiffany downgraded to Market Perform from Outperform at Cowen
Cowen analyst Oliver Chen downgraded Tiffany to Market Perform saying global macroeconomic weakness brings downside risk to comps. The analyst lowered his price target for the shares to $70 from $75.

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