Tiffany sees opening 13 stores, closing 4 in FY14 Says yen negatively affected Q4 sales. Says can no longer quantify total foreign tourists sales in the Americas region because of the legal restrictions on data collection in some U.S. states. Says still projects foreign tourist spending to be meaningful to sales. Says spending will increase this year and next. Expects to open 13 stores in FY14 and close 4. Comments made during the company's Q4 earnings conference call
Tiffany downgraded to Outperform from Buy at CLSA CLSA downgraded Tiffany to Outperform from Buy due to reduced Mainland Chinese tourism to Hong Kong, where 7% of sales are at risk. Price target is $101.
Goldman sees select Apparel and Footwear opportunities due to FX risk Goldman said translation currency exposure in the Apparel and Footwear has created volatility and opportunity to gain exposure to this theme. Goldman's analyst sees a positive near-term set-up for Nike (NKE) and Tiffany (TIF) and a negative set-up for Crocs (CROX) and Abercrombie & Fitch (ANF) and of upcoming earnings reports.