Tiffany & Co. (NYSE: TIF) boosted its annual outlook Tuesday, citing increases in worldwide sales during the holidays, according to Associated Press.
The jeweler said global sales climbed 17 percent to $799.1 million in November and December. Last year, sales sank 21 percent to $687.4 million.
Xplosive Stocks, an online financial publication, provides investors timely stock market information.
Sign Up Today for our Free Stock Newsletter
The company said it expects to earn $2.07 to $2.12 per share from its continuing operations for the full year. It previously expected $1.88 to $1.98 per share for the fiscal year ending in January. Meanwhile, the company said sales will hit $2.7 billion.
Both figures are higher than Wall Street forecasts. Analysts surveyed by Thomson Reuters expect Tiffany to earn $1.92 per share on revenue of $2.65 billion. Those estimates typically exclude one-time charges.
In North and Latin America, holiday sales grew 15 percent to nearly $444 million. Sales in stores open at least a year rose 12 percent.
Tiffany is scheduled to report full results on March 22.
Sign up for the free Xplosive Stocks newsletter. Investors interested in receiving small cap stock alerts through the penny stock newsletter published by Xplosive Stocks can sign up for free by visiting our website.
About Us
Xplosive Stock is a leading stock web site that allows investors and interested parties to research stocks that are on the move. We focus on Xplosive Stocks and track small cap companies that are on the brink of a financial breakout. To feature a company on our website please contact us at the email listed below.
Please click here to read the full disclaimer.
