The New Fiscal Year for Tiffany

Tiffany & Co announced its expectations for sales and earnings growth for the fiscal year that began on next February 1. For fiscal 2010, the Company is planning at least a 20% increase in worldwide net sales.
Chairman and chief executive officer, Michael J. Kowalski, said, "Having completed our planning process for the new fiscal year, we now think it is appropriate to share our thinking with investors.
Our U.S. sales results for the month of January were modestly improved from December and we are seeing ongoing strength in Asia-Pacific outside Japan and in Europe.
Generally speaking, we are planning our U.S. businesses cautiously for the first half of 2010 while planning for continued healthy international sales growth throughout the year."
Based on all the sales assumptions, the Company is planning for a mid-single-digit percentage increase in net earnings and a low-double-digit increase in diluted earnings per share.
Mr. Kowalski added, "We enter the new fiscal year with confidence in our store expansion opportunities, our line-up of new product designs and our ability to enhance customer awareness through our marketing program.

TIFFANY & CO. Tiffany 1837 ring

TIFFANY & CO.Tiffany 1837 Triple bar pendant

TIFFANY & CO. Love Knot bangle

Thursday, December 03, 2009