Tiffany (NYSE: TIF) Reports Mixed Q4 Earnings, Offers 2010 EPS GuidanceTiffany & Co. (NYSE:TIF) reported fiscal Q4 EPS of $1.09, missing consensus estimates of $1.13 per share.
Revenues for the quarter rose 17% year-over-year to $981.4 million, topping the consensus estimates of $970.9 million.
The company sees worldwide sales increasing by 11% in fiscal 2010 and expects to open 17 new stores. Tiffany sees fiscal 2010 EPS of $2.45 to $2.50.
Chairman and CEO Michael J. Kowalski said, "We were very pleased with the sales results in the fourth quarter which reflected growth in most countries, product categories and price points. Notwithstanding the global economic challenges over the past year, the decisive measures we took to control spending were successful and, combined with the considerable and growing international awareness of the TIFFANY & CO. brand, helped us to generate strong earnings and free cash flow."