Tiffany Jumps 6% on Q4 Results, Guidance

Luxury retailer Tiffany

released its Q4 earnings results prior to the opening bell on Tuesday. The company reported net earnings of $178.4 million or $1.39 per share, versus $181.2 million or $1.41 per share, in the year ago period. This compared to Wall Street consensus EPS estimates of $1.42. Revenues for the quarter were up 8 percent to $1.19 billion versus $1.10 billion in last year's corresponding quarter. This was in-line with consensus revenue estimates. Comparable store sales at Tiffany rose 6 percent, driven by strong growth in Asia and the Americas. Gross margins were 60.4 percent compared to 60.9 percent last year. Looking ahead, Tiffany sees fiscal 2012 EPS between $3.95 and $4.05 on roughly 10 percent revenue growth and stable operating margins. Currently, Wall Street analysts are projecting that TIF will report EPS of $3.93 in fiscal 2012 on revenues of $3.91 billion. Tiffany Chairman and CEO Michael Kowalski said, "we are confident that Tiffany & Co. is better positioned than ever in terms of its increased physical presence and brand awareness around the world, and we are confident in Tiffany's long-term, substantial growth potential." During Tuesday's trading session, TIF shares have risen 6.44% to $73.10. The stock has traded in a range between $71.87 and $74.20.