Deutsche Bank expects the third-quarter results of Tiffany & Co.
The Street expects third-quarter EPS of $0.67 on revenue of $924.64 million. Deutsche Bank projects EPS of $0.72, sales of $926 million, and 4 percent drop in comps. The brokerage also sees underlying improvement driven by the U.K. and China.
“Sales in 2H should improve relative to 1H thanks to product and brand initiatives and easier comps,” analyst Francesca Di Pasquantonio wrote in a note.
A Look Forward
Looking ahead, the analyst expects a seasonally
The company guided FY EPS down in mid-single-digits. For the fourth quarter, the analyst looks for 5 percent increase in EBIT, 3.8 percent rise in sales and 1 percent comp growth.
“We have confidence that new product flow, brand and marketing initiatives, the roll out of a new store format offering an improved shopping experience, a more customer-centric platform, and the continued efforts on productivity and efficiencies are starting to pay out,” Di Pasquantonio added.
Rating And Valuation
Di Pasquantonio has a Hold rating on Tiffany with a
Image Credit: By AdrianaGórak (Own work) [CC BY-SA 3.0], via
|Nov 2016||Cowen & Co.||Upgrades||Market Perform||Outperform|
|Sep 2016||Guggenheim||Initiates Coverage on||Buy|
|Sep 2016||CLSA||Initiates Coverage on||Outperform|
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