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Tiffany's outshines other jewelers in 3Q

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[b][url=http://www.sotiffany.com/jewelry-bracelets-c-46_58.html]Buy Tiffany Bracelets[/url][/b]
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| Tiffany Jewelry
Tiffany's outshines other jewelers in 3Q
Tiffany's shines in time for holiday season, luster not as bright for Movado, Signet
By The Associated Press
November 26, 2013 4:36 PM
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tiffany Tiffany Jewelry Buy Tiffany Tiffany & Co. outshone a number of other jewelry and watch sellers Tuesday after its most recent quarter got a boost from sales in Asia. But investors gave a close look at where all the retailers were positioned with the holiday shopping season set to begin in a few short days. Tiffany Jewelry Tiffany reported that its quarterly net income climbed 50 percent, helped by gains in the Asia-Pacific region. It earned $94.6 million, or 73 cents per share, on revenue of $911.5 million, far exceeding analyst estimates of 58 cents per share on revenue of $888.4 million, according to FactSet. It also raised its full-year adjusted earnings forecasts above market estimates and shares jumped nearly 9 percent Tuesday. Tiffany Outlet The jewelry chain is considered a barometer of luxury spending. The latest results show that the affluent continue to spend, bolstered by a stock market that is reaching new highs. Tiffany Jewelry Movado Group Inc., which makes high-end watches, reported that its third-quarter net income slipped to $23.4 million, or 89 cents per share, from $34.5 million, or $1.34 per share, last year. It earned 89 cents per share on an adjusted basis, versus 67 cents per share last year. Revenue increased 18 percent to $189.7 million. The quarter's results beat market forecasts of 87 cents per share on revenue of $184.4 million. The company said the gains were made on the popularity of its brands, which include Coach and Scuderia Ferrari watches. Movado also said it is well-positioned for the holiday season and reiterated a full-year earnings forecast of $1.90 per share. However, analysts were anticipating $1.95 per share and its stock fell. The company expects revenue for the year should come in at the high-end of its prior forecast at $580 million; analysts had predicted $579.7 million. Shares of Movado fell 4 percent to close at $45.54. Signet Jewelers Ltd., which targets a less luxury-based crowd with its mall-based fine jewelry chains Kay Jewelers and Jared in the U.S. and two U.K. chains, reported that its net income fell 2 percent on costs tied to an acquisition last year. The company earned $33.6 million, or 42 cents per share, compared with $34.9 million, or 43 cents per share, last year. The latest quarter's results matched analyst forecasts of 42 cents per share. Revenue increased nearly 8 percent to $771.4 million, missing market forecasts of $771.8 million. The company said it is well-prepared for the holiday season and forecast fourth-quarter earnings of $2.30 to $2.40 per share; analysts had forecast $2.36. Shares of Signet increased $1.34 cents, nearly2 percent, to close at $77.81. Zale Corp. reported after the market closed that it narrowed its quarterly loss to $27.3 million, or 83 cents per share, from $28.3 million, or 88 cents per share, last year. The prior year included a 6-cent-per share benefit from the settlement of a lawsuit. Revenue increased 1 percent to $362.6 million. The quarter exceeded market forecasts for a loss of 85 cents per share on revenue of $360 million. The company, which operates its namesake chain as well Gordon's Jewelers, did not issue a formal forecast. But it said it has expanded its exclusive product offerings, launched a new marketing campaign and "improved the store environment" in preparation for the holiday season. Shares added 55 cents, or almost 4 percent, to close at $14.83 and were unchanged in after-hours trading. Company Earnings Finance
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