Summary
1. Tiffany Shares rise in 2008. 2. Despite of poor holiday season and week market conditions. 3. Tiffany & Co. planning more things to be in the position.
Analysis
Tiffany & Co shares rise in 2008 and this is because of their brand name.
We all know last holiday season sale were very poor and from the beginning of 2008 market conditons are not very good. Market conditions are improving but not much to expect from it due to the rumors of recession in US.
But Tiffany is doing good in International Market so nothing to worry about it.
Tiffany shares rose $2.09 to 5.5 % and now are on $40.27 during midday trading. The stock has traded between $32.84 and $57.34 during the past 52 weeks. And company expects its fiscal 2008 earnings will be between $2.50 and $2.55 per share, which will be helped by international sales growth in the mid-teens, and at least 10 percent growth in worldwide sales.
Tiffany & Co. and Patek Philippe will open a Patek Philippe salon, the first in the United States, during April at Tiffany's New York flagship store. The salon will be dedicated exclusively to showcasing the legendary watchmaker's renowned timepieces and celebrating its watchmaking heritage. The salon will be located on the mezzanine level. The 3,000-square-foot salon will present some of the watchmaker's unique and most sought-after timepieces, horological masterpieces that embody the craftsmanship, tradition and innovation that define a Patek Philippe.
Tiffany & Co.'s fiscal year 2008 began February 1, and the company has provided guidance for the next 12 months.
Tiffany after completing their planning process for the new fiscal year, they now think it is appropriate to share their thinking with investors. Tiffany's U.S. sales results for the month of January were modestly improved from December and they are seeing ongoing strength in Asia-Pacific outside Japan and in Europe. They are planning that U.S. businesses cautiously for the first half of 2008 while planning for continued healthy international sales growth throughout the year. Tiffany forecasts a 10 percent increase in sales worldwide for 2008. The sales increase for the United States would approach a high-single digit percentage, but low-single digit same-store increase. International sales projections target percentage growth in the mid-teens, and mid-to-high single digit same-store increases.
Based on these assumptions and good International venture company suggest that they can easily achieve these figures.
