Tiffany recently posted its quarterly results, and Wall Street wasn't happy. Shares fell 4.5% after worse-than-expected sales.

But was the company's quarter really that bad? Same-store sales rose 5% in the US, total sales were up 9.2% and comparable sales in Asia increased 7% and popped 21% in Europe. Meanwhile net income shot up 19%.

So why so glum? These results don't seem especially poor, given that the economy is, by many accounts, is still stalled.

After all, Tiffany does sell jewelry, not day-to-day necessities. It's not like Walmart, a big economic indicator for the health of the economy, performed poorly. As far as we are concerned, if a high-end retailer posts some strong sales and earnings increases in this climate, it deserves to be rewarded...not punished.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM Digital Member, you’ll receive:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Capital Markets
National
Retail