On Thursday, Shares of Tiffany & Co. (NYSE:TIF), lost -2.19% to $83.22.
Tiffany & Co., stated its financial results for the three months ended July 31, 2015. Worldwide net sales rose 7% on a constant-exchange-rate basis; as stated, sales were about equal to the preceding year due to the negative effect from the strength of the U.S. dollar. A decline of 16% in net earnings, as stated, comprised of an impairment charge related to a loan to a diamond mining company; not taking into account the charge, net earnings declined 10%, in line with administration’s expectation. Administration now anticipates net earnings for the year ending January 31, 2016 to be 2%-5% below last year’s $4.20 per diluted share.
In the second quarter:
- Worldwide net sales were $991 million as compared to $993 million in the preceding year. On a constant-exchange-rate basis that excludes the effect of translating foreign-currency-denominated sales into U.S. dollars (see “Non-GAAP Measures” plan), both worldwide net sales and comparable store sales raised 7% due to growth in Japan, Europe and Asia-Pacific, in addition to raised sales of fashion gold jewelry and statement jewelry.
- Net earnings of $105 million, or $0.81 per diluted share, were 16% below the $124 million, or $0.96 per diluted share, earned a year ago, due to higher SG&A (selling, general and administrative) expenses which comprised of an predictable enhance in marketing spending, in addition to unfavorable effects from the strong U.S. dollar and the impairment charge of $0.05 per diluted share recorded for a loan to a diamond mining company. Not taking into account the impairment charge, net earnings declined 10% to $0.86 per diluted share, in line with administration’s expectation.
Tiffany & Co., through its auxiliaries, designs, manufactures, and retails jewelry worldwide. Its jewelry products comprise fine and solitaire jewelry; engagement rings and wedding bands to brides and grooms; and non-gemstone, sterling silver, gold, and metal jewelry.
Shares of Williams-Sonoma, Inc. (NYSE:WSM), declined -7.72% to $76.70, during its last trading session.
Brooklyn-based home furnishing retailer West Elm, a member of the Williams-Sonoma, Inc. portfolio of brands, declared it will open its first shop-in-shop in John Lewis, the UK’s largest department store retailer. The shop-in-shop will open on September 3rd in John Lewis’ newly renovated flagship store on Oxford Street in London following the launch of a branded shop online at johnlewis.com. The West Elm shop-in-shop is part of John Lewis’ multi-million pound home department makeover and represents the first time West Elm products will be accessible outside of the brand’s own stores and websites.
“John Lewis’ new home experience on Oxford Street offers the largest assortment of home products in any store in the UK, making it a true destination for designers and customers from around the country. We’re thrilled for West Elm to be the only branded shop-in-shop comprised of in the space,” said Jim Brett, president of West Elm. “This is the first time we’ve done anything like this, and it’s an incredible opportunity for West Elm to work in tandem with one of the UK’s largest retailers to quickly reach new customers and grow our business.”
Williams-Sonoma Inc. operates as a multi-channel specialty retailer of home products. The company operates in two segments, E-commerce and Retail. It offers cooking, dining, and entertaining products, counting cookware, tools, electrics, cutlery, tabletop and bar, outdoor, furniture, and a library of cookbooks under the Williams-Sonoma brand; furniture, bedding, bathroom accessories, rugs, curtains, lighting, tabletop, outdoor, and decorative accessories under the Pottery Barn brand; and products designed for creating magical spaces where children could play, laugh, learn, and grow under the Pottery Barn Kids brand.
At the end of Thursday’s trade, Shares of Royal Dutch Shell plc (ADR) (NYSE:RDS.B), gained 4.51% to $51.96.
Royal Dutch Shell plc, declared the Reference Share Price in respect of the second quarter interim dividend of 2015, which was declared on July 30, 2015 at $0.47 per A ordinary share and B ordinary share and $0.94 per American Depository Share.
Royal Dutch Shell plc operates as an independent oil and gas company worldwide. It operates through Upstream and Downstream segments. The company explores for and extracts crude oil, natural gas, and natural gas liquids. It also converts natural gas to liquids to provide fuels and other products; markets and trades natural gas; extracts bitumen from mined oil sands and converts it to synthetic crude oil; and generates electricity from wind energy.
Finally, Fidelity National Information Services (NYSE:FIS), ended its last trade with 1.21% gain, and closed at $70.29.
According to consumers worldwide, financial institutions excel at leveraging digital technology to meet convenience, choice and access needs of customers, but banks have permission to do more to become trusted advisors and move the banking relationship beyond transactional convenience to the center of the consumers’ living experience. In order to do so, consumers worldwide want to see banks enhance performance in basic banking areas to meet customer expectations and win trust. Those are just some of the findings of a new in-depth global research study released by FIS™ (FIS), a global leader in banking and payments technology as well as consulting and outsourcing solutions.
The FIS Consumer Banking PACE Index tracks how financial institutions are performing against customer expectations in nine different countries: Canada, Brazil, France, Germany, India, Netherlands, Thailand, the United Kingdom, and the United States using data compiled from more than 9,000 banking consumers. Commissioned by FIS, the study was conducted by TNS, one of the world’s largest independent research agencies.
While some of the results show the industry meeting or surpassing customer expectations – Canadians, in particular, said banks exceeded their expectations for convenience and connectivity, for instance – many of the responses were striking for the opportunities they present for financial institutions, especially as the trust factor continues to be a concern for consumers.
Fidelity National Information Services, Inc. provides banking and payments technology, consulting, and outsourcing solutions worldwide. Its Financial Solutions Group segment offers core processing software applications to run banking processes; retail banking delivery applications that enable financial institutions to integrate and streamline customer-facing operations and back-office processes; fraud, risk administration, and compliance solutions; syndicated loan applications that support wholesale and commercial banking operations; and onshore and offshore commercial services, such as consulting engagements, application development projects, operations support, and infrastructure administration, in addition to integrated consulting and advisory, technology, and IT transformation services.
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