{"id":33108,"date":"2012-08-27T12:50:00","date_gmt":"2012-08-27T12:50:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/tiffany-co-tif-q2-results-met-expectations\/33107\/"},"modified":"2012-08-27T12:50:00","modified_gmt":"2012-08-27T12:50:00","slug":"tiffany-co-tif-q2-results-met-expectations","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/tiffany-co-tif-q2-results-met-expectations\/33108\/","title":{"rendered":"Tiffany &#038; Co. &#8211; TIF &#8211; Q2 results met expectations"},"content":{"rendered":"<p><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"ca-pub-1408583772585547\";\n\/* SMW - News Links *\/\ngoogle_ad_slot = \"3490797620\";\ngoogle_ad_width = 468;\ngoogle_ad_height = 15;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/p>\n<p><strong>Tiffany &amp; Co. (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=TIF\">NYSE: TIF<\/a>)<\/strong> reported that in its second quarter the Company earned $92 million, or $0.72 per diluted share, on worldwide net sales of $887 million. Results were in-line with management&#8217;s expectations.<\/p>\n<p><strong>TIF &#8211; In the three months (&#8220;second quarter&#8221;) ended July 31, 2012:<\/strong><\/p>\n<ul>\n<li>Worldwide net sales of $887 million were 2% above the prior year. On a constant-exchange-rate basis that excludes the effect of translating foreign-<a href=\"http:\/\/www.knowfinance.com\/currency\/\" target=\"_blank\" rel=\"noopener\">currency<\/a>-denominated sales into U.S. dollars (see &#8220;Non-GAAP Measures&#8221; schedule), worldwide net sales increased 3% and comparable store sales declined 1%.<\/li>\n<li>Net earnings rose 2% to $92 million, or $0.72 per diluted share, versus $90 million, or $0.69 per diluted share, in 2011&#8242;s second quarter.<\/li>\n<li>Net earnings in the second quarter of 2011 had been reduced by $21 million, or $0.16 per diluted share, for nonrecurring items related to the relocation of Tiffany&#8217;s New York headquarters staff (see &#8220;Non-GAAP Measures&#8221; schedule). Excluding those costs, net earnings in the second quarter declined 17% from 2011&#8242;s second quarter.<\/li>\n<\/ul>\n<p><strong>TIF &#8211; In the six months (&#8220;first half&#8221;) ended July 31, 2012:<\/strong><\/p>\n<ul>\n<li>Worldwide net sales increased 4% to $1.7 billion. On a constant-exchange-rate basis, worldwide net sales and comparable store sales rose 5% and 1% respectively.<\/li>\n<li>Net earnings increased 1% to $173 million, or $1.36 per diluted share, from $171 million, or $1.32 per diluted share, a year ago.<\/li>\n<li>Net earnings in the first half of 2011 had been reduced by $26 million, or $0.20 per diluted share, for nonrecurring items related to the headquarters staff relocation. Excluding those costs, net earnings in the first half were 12% below the prior year.<\/li>\n<\/ul>\n<p>Michael J. Kowalski, chairman and chief executive officer, said, &#8220;These second quarter results met the expectations contained in our previously-reported financial guidance. Not surprisingly, sales growth has been affected by economic weakness in a number of markets and by a very challenging prior-year comparison to a 30% increase in worldwide net sales. We also anticipated the reduced operating margin in the quarter, adjusted for nonrecurring items, due to continued, but moderating, high product input costs and a lack of sales leverage on fixed costs. The resulting decline in net earnings, when compared with last year&#8217;s earnings excluding nonrecurring costs, was in line with our expectations and was on top of a 58% increase in last year&#8217;s second quarter.&#8221;<\/p>\n<p><strong>About Tiffany &amp; Co. &#8211; TIF<\/strong><\/p>\n<p>Tiffany &amp; Co. (TIF ) operates jewelry stores and manufactures products through its subsidiary corporations. Its principal subsidiary is Tiffany and Company. TIF operates TIFFANY &amp; CO. retail stores in the Americas, Asia-Pacific, Japan, Europe and the United Arab Emirates, and also engages in direct selling through Internet, catalog and business gift operations.<\/p>\n<div class=\"nr_clear\"><\/div>\n<div id=\"nrelate_popular_2\" class=\"nrelate nrelate_popular nrelate_default nr_1col nr_text\"><\/div>\n<p>\t<!--[if IE 6]>\n\t\t<script type=\"text\/javascript\">jQuery('.nrelate_default').removeClass('nrelate_default');<\/script>\n\t<![endif]--><\/p>\n<p>\t<script type=\"text\/javascript\">\n\t\/* <![CDATA[ *\/\n\t\tnRelate.domain = \"www2.thestockmarketwatch.com%2Fstock-market-news\";\n\t\tvar entity_decoded_nr_mp_url = jQuery('<span\/>').html(\"https:\/\/web.archive.org\/web\/20120828233034\/http:\/\/api.nrelate.com\/mpw_wp\/0.51.2\/?tag=nrelate_popular&domain=www2.thestockmarketwatch.com%2Fstock-market-news&url=http%3A%2F%2Fwww2.thestockmarketwatch.com%2Fstock-market-news%2Ftiffany-co-tif-q2-results-met-expectations%2F33108&nr_div_number=2&maxageposts=7200&increment=1\").text();\n\t\tnRelate.getNrelatePosts(entity_decoded_nr_mp_url);\n\t\/* ]]&gt; *\/\n\t<\/script>\n\n\n<div class=\"nr_clear\"><\/div>\n\n\n\n\n<!-- AddThis Button BEGIN -->\n\n\n<div class=\"addthis_toolbox addthis_default_style addthis_32x32_style\">\n<a class=\"addthis_button_preferred_1\"><\/a>\n<a class=\"addthis_button_preferred_2\"><\/a>\n<a class=\"addthis_button_preferred_3\"><\/a>\n<a class=\"addthis_button_preferred_4\"><\/a>\n<a class=\"addthis_button_compact\"><\/a>\n<a class=\"addthis_counter addthis_bubble_style\"><\/a>\n<\/div>\n\n\n<script type=\"text\/javascript\">var addthis_config = {\"data_track_addressbar\":true};<\/script>\n<script type=\"text\/javascript\" src=\"http:\/\/s7.addthis.com\/js\/250\/addthis_widget.js#pubid=pennystocksfinder\"><\/script>\n<!-- AddThis Button END -->\n\n\n\n\n<p>More Posts by this author<\/p>\n\n\n\n<ul>\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-end-on-a-mixed-note-in-a-choppy-trading-session\/33208\">\nStocks End on a Mixed Note in a Choppy Trading Session<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-settle-lower-silver-prices-also-drop\/33207\">\nGold Prices Settle Lower; Silver Prices also Drop<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-marginally-higher-in-late-trading-3\/33205\">\nStocks Marginally Higher in Late Trading<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-struggle-for-direction-14\/33202\">\nStocks Struggle for Direction<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/mobile-telesystems-mbt-year-over-year-our-mobile-business-grew-by-10\/33183\">\nMobile TeleSystems &#8211; MBT &#8211; Year-over-year our mobile business grew by 10%<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/hudson-city-bancorp-hcbk-to-merge-with-mt-bank-corporation-mtb\/33184\">\nHudson City Bancorp &#8211; HCBK &#8211; To Merge with M&#038;T Bank Corporation &#8211; MTB<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/soufun-holdings-sfun-declares-cash-dividends-to-shareholders\/33185\">\nSouFun Holdings &#8211; SFUN &#8211; Declares Cash Dividends To Shareholders<\/a><\/li>\n\n\n\n<\/ul>\n\n\n\n\n\n\n<hr>\n\n\n\n\n\n<table style=\"border:none;margin:0;\">\n\n\n<tr>\n\n\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/web.archive.org\/web\/20120828233034im_\/http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/wp-content\/uploads\/userphoto\/5.jpg\" alt=\"edliston\" width=\"125\" height=\"125\" class=\"photo\"><\/td>\n\n\n\n\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n\n\n<div style=\"font-size:11pt;\"><b>Post Written By: Ed Liston <\/b><\/div>\n\n\n\n\n<div style=\"font-size:10pt;\">\n\nEd Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.\n<\/div>\n\n\n<\/td>\n\n<\/tr>\n\n<\/table>\n\n\n\n\n\n\n<script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"pub-1408583772585547\";\n\/* 336x280, created 7\/9\/11 *\/\ngoogle_ad_slot = \"3552319058\";\ngoogle_ad_width = 336;\ngoogle_ad_height = 280;\n\/\/-->\n<\/script>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script>\n\n\t\t\t\t\t\t\n\n\t\n\n<div style=\"margin:5px;margin-bottom:20px;font-size:11pt;\">&laquo; <a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/\">Return to Stock Market News<\/a> &laquo; <\/div>\n\n\n<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tiffany &amp; Co. (NYSE: TIF) reported that in its second quarter the Company earned $92 million, or $0.72 per diluted [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50312,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"rank_math_schema_Article":[],"rank_math_focus_keyword":[],"rank_math_description":[],"financial_data_references":[],"stock_symbols_mentioned":[],"footnotes":""},"categories":[6],"tags":[1462],"class_list":["post-33108","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-hot-stocks-to-watch","tag-tif"],"_links":{"self":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/33108","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/comments?post=33108"}],"version-history":[{"count":0,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/33108\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media\/50312"}],"wp:attachment":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media?parent=33108"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/categories?post=33108"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/tags?post=33108"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}