The Financial Report Tiffany & Co

Tiffany & Co. the world famous jewelry retailer operates jewelry and specialty retail stores and manufactures products through its subsidiary corporations. Its principal subsidiary is Tiffany and Company. The Company operates TIFFANY & CO. retail stores and boutiques in the Americas, Asia-Pacific and Europe and engages in direct selling through Internet, catalog and business gift operations.
And Tiffany & Co reported that one of its subsidiaries has entered into an agreement with NXP Corporation for NXP to purchase 100% of the stock of Little Switzerland Inc.
NXP operates retail stores under the brands "Jewels" and "Azura by Jewels" in the Caribbean offering branded jewelry and watches.
The loss related to this transaction is expected to reduce Tiffany's after-tax earnings in the second quarter.
Earlier this year, the Company had disclosed that it had hired Evercore Group L.L.C. to assist management in exploring various strategic alternatives related to Little Switzerland.
The Company expects to report its fourth quarter results on Dec 31, 2009. At that time, the Company will discuss the post-sale beneficial effect of this transaction on its future financial results.

TIFFANY & CO. Elsa Peretti Full Heart earrings

TIFFANY & CO.Tiffany Red heart lock charm and bracelet

TIFFANY & CO.Tiffany Aria pendant

Wednesday, December 09, 2009