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5 个月前
BRIEF-Tiffany- Stronger yen contributing to increased purchasing attributed to Japanese tourists
2017年3月17日 / 下午1点53分 / 5 个月前

BRIEF-Tiffany- Stronger yen contributing to increased purchasing attributed to Japanese tourists

March 17 (Reuters) - Tiffany

* Lower spending that we attributed to Chinese tourists in other regions in 2016 may have led to some of the higher spending from local consumers within China

* Believe the stronger yen has been a factor contributing to increased purchasing attributed to Japanese tourist in other regions

* Believe sales lift we saw in uk in second half of 2016 was from spending by foreign tourists after British pound decline following Brexit vote

* CFO on conf call- " tiffany's financial performance over the past couple of years has been disappointing"

* CFO - since over half our sales are from outside the us and we expect dollar to be stronger than last year, we should be facing a sizable headwind in terms of translating non-us sales into dollars

* Held our Blue Book event in the spring, the results, while strong, did not measure up to success of those events in the prior two years

* In January the flagship store technically did very well but that was really driven by a couple of very large one-off transactions

* Chairman- "we will be innovative across all categories in 2017 and 2018. There will be newness in silver, gold, platinum, diamonds"

* Chairman- "the fashion category is where we have enjoyed the most relative success so I think that speaks at least directionally of some success in appealing to millennials" Further company coverage:

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