Categories AlphaGraphs, Earnings, Other Industries
Tiffany (TIF) slips to a loss in Q1, misses estimates
Tiffany & Co. (NYSE: TIF) reported a 45% dip in the top-line for the first quarter of 2020 due to the closures of its retail stores across all of the global markets arising from the COVID-19 pandemic crisis. Comparable sales dropped by 44%.
The company slipped to a loss from a profit last year due to lower revenue. The first-quarter was very challenging with sales and earnings significantly impacted by COVID-19, the impact of which the company expects to negatively affect its full-year sales and earnings relative to 2019.
The e-commerce sales were up 23% globally with key markets such as the United States and the United Kingdom up 14% and 15%, respectively. Additionally, sales through our Mainland China e-commerce portal have grown sequentially every quarter since the portal was launched last July.
The company will not be communicating an outlook for the remainder of the year. In light of the company’s entry into the merger agreement, the company will not conduct a conference call to review its results for the quarter.
Take a look at our Other Industries articles here
Does Unity Software (U) stock has more room to run?
Last month, the IPO market was in a full swing. IPOs of Snowflake (NYSE: SNOW) and JFROG (NASDAQ: FROG) had an impressive opening day in September, the former creating a
PepsiCo (PEP): Steady snacking habits amid pandemic drive strong quarter for beverage giant
PepsiCo Inc. (NASDAQ: PEP) beat market expectations on both revenue and earnings for the third quarter of 2020. The company saw the momentum continue in its snacks business while the
Does the virus-driven boom make Electronic Arts (EA) a good investment?
With more and more people turning to virtual entertainment sources, amid the virus-related movement restrictions, video game publishers like Electronic Arts (NASDAQ: EA) are witnessing unusually high demand. Not surprisingly,