Tiffany & Co beats by $0.04, beats on revs; guides FY19 EPS in-line (midpoint below), revs in-line
- Reports Q4 (Jan) earnings of $1.67 per share, excluding non-recurring items, $0.04 better than the Capital IQ Consensus of $1.63; revenues rose 8.5% year/year to $1.33 bln vs the $1.32 bln Capital IQ Consensus.
- Q4 comps +3%. On a constant-exchange-rate basis, worldwide net sales rose 6% and comparable store sales were 1% above the prior year.
- Co issues in-line guidance for FY19, sees EPS of $4.25-4.45, excluding non-recurring items, vs. $4.42 Capital IQ Consensus Estimate; sees FY19 revs of mid single digits (cons +4.8%) vs. $4.37 bln Capital IQ Consensus Estimate.
- FY19 Guidance Details: Co sees low-to-mid-single-digit comparable sales growth with varying degrees of growth in all regions; (ii) worldwide gross retail square footage increasing 2%, net through nine store openings, two closings and at least 15 relocations; (iii) operating margin below the prior year as a result of SG&A expense growth.
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