Luxury Goods: Tiffany : Q2 results above expectations

News published on August Thursday 28, 2014
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Yesterday Tiffany's Q2 results (ended July 31) topped expectations despite a slight comps miss. Sales increased 7% to USD993m (CS: USD987m), mainly driven by Americas and Asia-Pacific. Q1 EPS also beat estimates at 96¢ vs. 0.85¢ expected mainly thanks to a strong GM improvement. Consequently, management is revising up its FY15 EPS guidance again: USD4.20-4.30 vs. USD4.15-4.25 previously and still expects sales to grow at a high single-digit rate.

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