Tiffany Slashes Guidance, Sees Q1 Earnings Down As Much As 20%, Three Time Worse Than Consensus
by Tyler Durden
ZeroHedge.com
03/18/2016
TIF just lowered EPS guidance for Q1, and now sees EPS down 15-20%, nearly three times worse than the consensus estimate of -7%. The company also issued Q2 guidance of down 5-10%, and expects growth to resume in the second half. Finally, TIF issues downside guidance for FY17, sees EPS unchangd to down mid single digits from $3.83 vs. $3.88 Capital IQ Consensus; it also sees FY17 revs equal to last year’s $4.10 bln) vs. $4.15 bln Capital IQ Consensus. Basically more deteriorating earnings all around, offset by the company removing the number of outstanding shares.
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