Tiffany Announces Cuts In Its Future Expectations

Recently, Tiffany, Signet Jewelers and Movado three accessories retailers announced the company's third quarter performance report respectively, but the performance of the three investors disappointed investors.

Us jewellery retailer Tiffany did not anticipate its third quarter earnings and announced its cuts in its future expectations.

By the end of Tuesday, the group's shares rose more than 3% to 79.32 dollars.

According to the group performance report, Tiffany's earnings per share in the third quarter were $0.70, below

The expected earnings per share are $0.75.

The group's sales volume was $938 million, lower than the $971 million expected.

Its net profit in the third quarter was US $91 million, and net profit last year was US $38 million.

Due to the negative impact of the strong US dollar and the increasing uncertainty in the global market, Tiffany announced its future expectations.

The Group expects net profit for the fiscal year ended January 31, 2016 to be 5-10%, lower than last year's diluted earnings of $4.20 per share.

U.S.A

Signet Jewelers's third quarter earnings and total revenue have not reached expectations, and share prices have declined.

The group's earnings per share for the third quarter were $0.33, lower than FactSet's expected $0.39.

Sales amounted to $1 billion 216 million, which was also lower than the $1 billion 229 million expected.

Other operating income was $60 million 900 thousand, an increase of 13.8% over last year's $53 million 500 thousand.

Frederic Cumenal, chief executive, said: "as expected, the strength of the US dollar continues to exert pressure on our performance, especially the sale of non US dollars into dollars, as well as the consumption of foreign tourists in the US region.

In addition, we believe that the turbulent and unstable economic and market environment in the United States and other regions will affect consumer spending and make us cautious about short-term prospects. "

By region,

Total sales and same store sales fell by 5% and 6% respectively.

The group continued to maintain steady sales growth in China and Australia, but sales in Hongkong and Macao continued to fall.

In dollar terms, Japanese sales increased by 17%, while European total sales fell by 2%.

In addition, the continued decline in the price of precious metals is conducive to the original cost of the company, pushing gross margin increased from 59.5% last year to 60.2%.

In addition, the stronger US dollar led to Tiffany raising prices.

The group has found that sales have changed, whether it is high priced products, low profit products or high priced diamond wholesale sales.

Movado, a famous Swiss watch retailer, also failed to meet its third quarter expectations.

The group's earnings per share for the third quarter were $0.92, slightly below the FactSet's estimated $0.93.

Compared with the same period last year, revenues fell by 1.6% to $185 million 600 thousand, down from the expected $190 million.

Operating income was $33 million 500 thousand, barely higher than last year's $33 million 300 thousand.