NEW YORK--in another sign that the sector of luxury high rest, Tiffany & Co. said Thursday that its profit in the first quarter increased by 25% on incomes higher in all regions in the world.
The results beat the top hand expectations and manufacturer of jewellery also raised its forecast for the year above current Wall Street estimates.
Shares rose $ 6, or 8.6%, to close Thursday at $76.04.
New York, known for its iconic turquoise box, the company said net income if student at 81.1 million, or 63 cents per share, for the three months ended April 30, of 64.4 million, or 50 cents per sharea year earlier. Net income includes 4 cents per share of expenditures related to Tiffany relocate its headquarters in New York.
Analysts expected 57 cents per share, according to FactSet.
Sautéed revenue 20 percent to 761 million from $633.6 million last year, significantly higher than the predictions of the analyst of 702.6 million.
High-end, commitment and gold jewelry selling particularly well, said investor relations vice president Mark Aaron. Silver jewellery, which sold well in the recession, since it is relatively low prices, had growth, but remains limited.
"The U.S. economic environment affecting expenditure by some of our customers of silver jewellery at entry-level price points will be probably difficult for some time," said Aaron.
In particular, sales in the Japan quickly recovered after the devastating earthquake and tsunami. About a quarter of Tiffany stores are in the Japan. The Japan sales increased by 7% to $ 123.4 million.
However, to the exclusion of the rise of the yen, sales fell by 3%. But, it was better than expected of Tiffany.
Revenue at stores open at least a year, a key industry metrics, also fell to 3%. Tiffany said all stores closed due to earthquake reopened.
Income in the Americas, the largest region of Tiffany, increased by 19% to $ 374.7 million. The region includes United States, Canada, and Latin America. Income from stores open at least a year increased by 17%, a jump of 23 percent to the Tiffany flagship store, New York a Mecca for tourists.
Revenue in the Asia-Pacific increased by 37% to $ 167.2 million. In Europe, income increased by a quarter of $ 85.6 million.
While some have speculated results in Hawaii and Guam would suffer less tourists Japanese, income in the region of six-store stores open at least a year actually increased 30%.
CEO Michael Kowalski said Tiffany introduce new products this year, will increase marketing and advertising and open 19 new stores during the year.
High costs of diamond Tiffany raise prices earlier this year and said Tiffany could raise prices again in the various categories and regions to offset the higher costs and precious metals. But the price increases have not discouraged shoppers, Aaron said.
"Clients are certainly aware of the rising costs of raw materials and we have not experienced any significant resistance to higher prices," he said.
For the full year, Tiffany expects now net adjusted $3.45 and $3.55 by action of orientation prior $ 3.35 to $ 3.45 per share. Analysts expected earnings of $3.31 per share.
Sales are expected to increase to a "percentage of adolescence" around the world.
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