Tiffany’s Stock Jumps After Beating Earnings
Retailer Tiffany’s (TIF) is up over 12% currently in live trading this morning after posting better then expected earnings.
The jewelry retailer posted Q4 earnings of $1.27 a share vs an expected $1.21 a share, both exclude one-time charges. This is up 31% from the year prior and puts Tiffany’s in a good spot moving forward.
Revenue rose to $1.05 billion from $958.9 million last year, matching analysts’ predictions.
The strongest results for the company have been seen with its international sales as US sales have lagged. Sales in stores that have been up atleast 1 year fell 1 percent in the US but internationally rose 6 percent.
Tiffany shares have traded above $43 already today which puts the stock up 12.5%. Intraday high today thus far is $44.10.
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POSTED IN: Earnings
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