Photo: Youtube/ FabAudrey
Tiffany & Co. just announced Q4 EPS of $1.39 on revenue of $1.19 billion.Analysts were expecting EPS of $1.42 on revenue of $1.18 billion.
“Tiffany exceeded the goals that we had set at the start of 2011 for both sales and earnings growth, although we concluded the year with softer-than-expected results,” said CEO Michael Kowalski.
Fourth quarter sales grew in all regions.
- Americas increased 5 per cent to $605 million.
- Asia-Pacific surged 19 per cent to $225 million.
- Europe climbed 3 per cent to $142 million.
For fiscal 2012, management expects worldwide sales to grow 10 per cent. It also expects to deliver earnings of $3.95 to $4.05 per share.
Analysts were looking for $3.64 per share.
“Our expansion plans for 2012 include opening a net of 24 stores in important markets, delivering extraordinary product offerings with several new jewelry collections, increasing our marketing spending and providing superior shopping experiences,” said Kowalski.