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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 | Continued
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