FILE- In this Nov. 29, 2018, file photo, a woman walks past a Tiffany & Co. store at a shopping mall in Beijing. Tiffany & Co. reports financial results on Friday, March 22, 2019. (AP Photo/Mark Schiefelbein, File)

Tiffany posts mixed results in fourth quarter

March 22, 2019 - 9:09 am

NEW YORK (AP) — Tiffany & Co. on Friday posted mixed results for the holiday season, with profit meeting estimates but revenue falling short. Shares of the company slipped 4 percent in premarket trading.

The company reported fiscal fourth-quarter net income of $204.5 million. On a per-share basis, the New York-based company said it had net income of $1.67. Earnings, adjusted for pretax gains, came to $1.60 per share.

The results matched Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was also for earnings of $1.60 per share.

The luxury jeweler posted revenue of $1.32 billion in the period ended Jan. 31, falling short of Street forecasts. Seven analysts surveyed by Zacks expected $1.34 billion.

For the year, the company reported profit of $586.4 million, or $4.75 per share. Revenue was reported as $4.44 billion.

Tiffany shares have risen 24 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 14 percent. The stock has climbed 3 percent in the last 12 months.


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