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Tiffany Beats On Earnings, Then Tanks

Published 03/16/2018, 11:24 AM
Updated 07/09/2023, 06:31 AM

Tiffany & Co. (NYSE:TIF) traded down by 6%, after initially trading higher in extended hours yesterday afternoon. The luxury jewelry retailer reported earnings per share of $1.67 and total revenue of $1.33 billion, compared to estimates of $1.63 and $1.3 billion.

They also reported same store sales growth of 3%, compared to estimates of 2.8%. However, European sales were disappointing, which may have contributed to the downward break.

Our analysis of TIF’s market cycles indicates the current correction may continue into late April, with a target below $95. Note the bear flag break on the daily chart. The market cycles are designated by the semicircles at the bottom of the weekly chart.
Tiffany & Company

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