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Diamonds in the Rough: Two Luxury Brands Ready to Shine
Luxury jeweler Tiffany & Co. (TIF) yesterday (Thursday) followed in the footsteps of other high-end brands when it announced strong fiscal second quarter results.
Tiffany’s net income increased to $80.8 million, or 63 cents per share, in the second quarter, up from $40.5 million, or 29 cents, for the same period a year prior. It was enough to beat mean analyst expectations of 55 cents per share and sent Tiffany shares up 10%.
“Tiffany did a lot better than investors feared,†Schick, an analyst with Stifel Nicolaus & Co. (SF), told Bloomberg News in a telephone interview. “Luxury isn’t getting a ton…
29Aug2008 | Money Morning | Comments Off | ContinuedJapan Makes Way for China Tourist Money
From my vantage point on my recent visit to both China and Japan, the signs are clear.
China is coming. And Japan knows it.
Major department stores like Takashimaya Co. Ltd., Sogo Co. Ltd. and Mitsukoshi Ltd. are gearing up. In places like Tokyo, Osaka and Kyoto, they’re seeing a new wave of power shoppers at their counters – the Chinese.
A few short years ago, this was unthinkable.
Yet, as my wife and I strolled through downtown Kyoto, we saw it too. Most major department stores have added Chinese signage to the usual Japanese and English placards.
We heard it, as well, from…
5Jun2008 | Money Morning | Comments Off | Continued
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