Tiffany & Co. said March 16 that it expects net diluted EPS for fiscal year 2018 ending January 31, 2019, to come in between $4.25 and $4.45, compared to full-year 2017 adjusted EPS of $4.13.
The company also said it expects worldwide net sales to increase by a mid-single-digit percentage
For the fourth quarter of 2017 ended January 31, 2018, the New York-based jewelry maker said its adjusted net earnings jumped 15% to reach $208 million, or $1.67 per diluted share, better than the S&P Capital IQ consensus normalized EPS estimate of $1.63. Tiffany said it recorded a charge of $146 million, or $1.17 per diluted share, in the fourth quarter as a result of the enactment of the U.S. Tax Cuts and Jobs Act. Effective income tax rate also increased to 79.4% in the quarter, compared to 36% income tax rate recorded in the prior-year quarter. Net sales in the quarter increased by 6% to $1.3 billion, while comparable store sales rose 1%.
Tiffany's net sales in fiscal 2017 increased by 4% to $4.2 billion, while comparable sales in the period were equal to the prior year. Net profit in the year came in at $516 million, or $4.13 per diluted share, 10% more than the prior year’s $470 million, or $3.75 per diluted share.
