Friday, March 16, 2018

Tiffany & Co. Q4 Profit Tops Estimates; Worldwide Net Sales Up 4%

Tiffany & Co. (TIF) reported fourth-quarter net earnings of $62 million, or $0.50 per diluted share, which were 61% below the prior year's $158 million, or $1.26 per diluted share. The company recorded tax-related charges in the fourth quarter of 2017 and certain impairment charges in last year's fourth quarter. Excluding such charges, net earnings rose 15% to $208 million, or $1.67 per share, from last year's $182 million, or $1.45 per share. On average, 22 analysts polled by Thomson Reuters expected the company to report profit per share of $1.64 for the quarter. Analysts' estimates typically exclude special items.

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