BRIEF-Tiffany- Stronger yen contributing to increased purchasing attributed to Japanese tourists
March 17 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:
BRIEF-Facebook CEO Zuckerberg says Facebook has officially 2 bln people
* Facebook CEO Mark Zuckerberg says in FB post "as of this morning, the facebook community is now officially 2 billion people" Source http://bit.ly/2sXrqKW
REFILE-UPDATE 3-EU hits Google with record $2.7 bln fine
BRUSSELS, June 27 EU antitrust regulators hit Google with a record 2.4-billion-euro ($2.7 billion) fine for favouring its own shopping service, taking a tough line in the first of three probes of its dominance in searches and smartphone operating systems.