TIF - More on Tiffany Q3 results

Tiffany (TIF) reports Q3 worldwide net sales of 1.01B, beats consensus by $32.36M.Sales by region: America decreased 16% to $354M; Asia-Pacific grew by 30% to $382M; Japan decreased by 8% to $156M; Europe declined 6% to $104M; Other decreased 30% to $12M.Gross margin of 63.8%.SG&A expenses decreased 6% to $144M.Operating margin was 16.4%Net earnings of $119M were 52% higher than the prior year’s $78M, and net EPS was $0.98 versus $0.65 prior.Q4 current expectations: a mid-single-digit percentage decline in total net sales relative to the same period in the prior year; a low-double-digit percentage increase in operating earnings relative to the same period in the prior year; a high-single-digit percentage increase in diluted earnings per share relative to the same period in the prior year.Previously: Tiffany EPS beats by $0.45, beats on revenue (Nov. 24)

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More on Tiffany Q3 results