Same store sales were also unchanged from a year earlier, compared with the growth of 1.4% analysts were expecting.
Here's what Tiffany reported compared with what analysts were expecting, based on a survey of analysts by Refinitiv:Revenue: $1.015 billion vs. $1.037 billion expectedIn the third quarter ended Oct. 31, Tiffany said net income decreased by 17% to $78 million, or 65 cents per share, from $95 million, or 77 cents per share, a year earlier. Analysts were expecting Tiffany to earn 85 cents per share in the quarter.
The earnings report came a week after French luxury giant LVMH reached a deal to acquire Tiffany for $16.2 billion, or $135 a share, in cash. The boards of both companies approved the deal and the transaction is expected to close in the middle of 2020, subject to approval from Tiffany's shareholders and regulatory approvals., Tiffany reported earnings that topped analysts' expectations, but its revenue fell as protests in Hong Kong disrupted sales and tourists spent less across the U.S.
Nobody really needs jewelry. It’s the ultimate discretionary product, and nothing depreciates faster the moment it’s been purchased.
LiveSquawk And right after the big acquisition too wah wah wahhhhhhh
“Tiffany’s. Tiffany’s. We going shopping at Tiffany’s” 1future
Tiffany Trump’s fault. realDonaldTrump