Tiffany Appoints New President

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tiffany outlet store tiffany outlet tiffany jewelry outlet Tiffany Appoints New President By Zacks Equity Research | Zacks – Wed, Sep 25, 2013 4:30 PM EDT RELATED QUOTES Symbol Price Change TIF 76.86 +0.2400 CBK 7.55 +0.3400 CTRN 17.59 +0.11 KIRK 18.70 +0.26 tiffany Recently, the board of directors at Tiffany & Co. (TIF) appointed Frederic Cumenal as the company’s president and nominated him to an additional seat created in the board. Now, the company has 10 directors altogether in its board. Cumenal had joined Tiffany as the Executive Vice-President in 2011. Prior to this, he served as President and Chief Executive Officer (CEO) of Moet & Chandon, S.A. of the LVMH Group. As President, Cumenal will continue to shoulder all his regional responsibilities and will supervise the Design, Merchandising and Marketing operations as well. Cumenal will report directly to CEO Michael J. Kowalski. Though Cumenal’s association with Tiffany has been brief, the company expects his vast experience as well as expertise to boost the company’s future prospects. Earlier this month, Tiffany appointed noted jewelry designer Francesca Amfitheatrof as Design Director. Last month, Tiffany posted second-quarter fiscal 2013 earnings. The results were better-than-expected due to rise in demand in the Asia Pacific region, especially in Greater China. The quarterly earnings of 83 cents per share surpassed the Zacks Consensus Estimate of 74 cents, and rose 15.3% from 72 cents in the prior-year quarter driven by higher sales and improved operating margin. Consequently, management provided an upbeat guidance. Tiffany now projects fiscal 2013 earnings between $3.50 and $3.60 per share, up from its previous forecast of $3.43 to $3.53. The current Zacks Consensus Estimate for fiscal 2013 is $3.61 per share. Tiffany now expects total net sales growth in mid single digits for fiscal 2013. In constant currencies, total net sales are projected to increase in the high single-digit range. Operating earnings are expected to grow at a rate higher than that of sales. Tiffany currently has a Zacks Rank #2 (Buy). Other retail stocks that look promising and are expected to continue with their upbeat performance include Citi Trends, Inc. (CTRN), Christopher & Banks Corp. (CBK) and Kirkland's Inc. (KIRK). All these carry a Zacks Rank #1 (Strong Buy). Read the Full Research Report on TIFRead the Full Research Report on CBKRead the Full Research Report on CTRNRead the Full Research Report on KIRKZacks Investment Research ADVERTISEMENT Zacks Investment Research FREE: Zacks Rank #1 Stock of the Day This system triples the S&P 500 Get Picks Now ! cheap tiffany & co tiffany and co Related Content Macy's Downgraded to Underperform Men's Wearhouse & David's Bridal Renew Deal Hawaiian Telecom Upgraded to Strong Buy ConAgra Retained at Neutral Healthways Reiterated at Neutral Lululemon Beats Q2 Earnings but Lowers Guide Tiffany appoints Frederic Cumenal as President Regis Downgraded to Underperform Autoliv Remains at Neutral St. Jude Reiterated at Neutral Beacon Roofing to Underperform State Street Reiterated at Neutral DFC Global Slides to Underperform Rank on Omnitek Lowered Top Stories آ» Dollar, U.S. stock futures steady; U.S. government shutdown seen short Reuters tiffany The dollar and U.S. stock futures held steady on Wednesday as investors bet the first partial U.S. government shutdown … Exclusive: Microsoft investors push for chairman Gates to step down Reuters Developing Asia can weather Fed's tapering, says ADB Reuters NY to sue Wells Fargo, strike deal with Bank of America over mortgages: … Reuters Exclusive: Cargill close to agreeing purchase of ADM's cocoa unit - so … Reuters Trading Center Compare Brokers آ» Yahoo Finance on ******** AdChoices cheap tiffany wholesale tiffany jewelry tiffany jewelry tiffany & co