Leading luxury brand,
Tiffany & Company
) announced the opening of its first wholly owned retail store in
Moscow, Russia. The two-level, 4,520 square feet store will be
located at the GUM department store and is scheduled to open in
the first quarter of fiscal 2014.
The move is in line with the company's strategic initiative to
expand in regions which provide ample growth opportunities. The
location is a perfect fit for Tiffany as the GUM department store
is the ultimate luxury shopping paradise in Moscow besides being
an art and culture hub.
The company's store expansion plans signify the increasing
demand for Tiffany's products in international markets.
Moreover, its exclusive line of fine jewelry sets it apart
from other jewellery retailers like
Signet Jewelers Limited
This Zacks Rank #3 (Hold) stock plans to add a net of 14
stores in fiscal 2013 including 6 in the Americas, 7 in
Asia-Pacific, 3 in Europe and closing 1 location each in Japan
As of Apr 30, 2013, the company operated 275 stores (115 in
the Americas, 66 in Asia-Pacific, 55 in Japan, 34 in Europe and 5
in the U.A.E.).
Going forward, Tiffany continues to project fiscal 2013
earnings between $3.43 and $3.53 per share, reflecting
year-over-year growth of 6% - 9%. However, management expects
second-quarter earnings to remain flat with the prior-year
Tiffany now expects total net sales growth in the mid-single
digits for fiscal 2013. In constant currencies, total net sales
are projected to increase in the high-single-digits. For the
second quarter too, sales are expected to rise in the mid-single
Other Stock to Consider
Until any further upgrade in Tiffany's Zacks Rank, the other
well performing stock in the non-food retail, wholesale sector
Big 5 Sporting Goods Corp
), which carries a Zacks Rank #1 (Strong Buy).
BIG 5 SPORTING (BGFV): Free Stock Analysis
SIGNET GRP PLC (SIG): Free Stock Analysis
TIFFANY & CO (TIF): Free Stock Analysis
ZALE CORP NEW (ZLC): Free Stock Analysis
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