The company reported an excellent quarter and the stock is higher by 6.5% early on. However, they issued a warning due to its flagship NYC store undergoing notable softness, thanks to all of the progressives protesting the democratically elected candidate for President of the United States, Donald J. Trump — right next door at Trump Tower.
An analyst from Cowen believes foot traffic could be halved, due to the wanton fuckery that is pervasive and ongoing outside the building. Truly, this cannot be happening at a worse time for Tiffany’s, especially when considering the business climate is robust for their overpriced wares and idiot bracelets.
The flagship NYC store accounts for 8% of overall sales.
Here’s the scene outside of Trump Tower.
Source: Bloomberg
Tiffany & Co. said the protests and heightened security around the residence of President-elect Donald Trump have hurt customer traffic at its flagship New York store — and the company isn’t sure when things will get better.
The shop on Fifth Avenue, next to Trump Tower, has seen “sales softness” compared with the year before and relative to the company’s other U.S. stores, Tiffany said in a statement Tuesday. The location is Tiffany’s largest.
“The company cannot provide any assurance that sales in that store will not be negatively affected by this activity in the fourth quarter or in any future period,” the jeweler said.
Traffic at the store, which has an entrance next to Trump Tower’s, could be cut in half, Cowen & Co.’s Oliver Chen said in a note this month. The analyst trimmed his fourth-quarter earnings forecast for Tiffany by 3 cents a share.
“Donald Trump’s election victory may cause an unforeseen headwind to the business in the fourth quarter,” and the disruption could linger and deter foot traffic through the key holiday selling season, Ike Boruchow, an analyst at Wells Fargo & Co., said in a note.
Anti-Trump protests have broken out near the residence of the president-elect, and barricades have been erected around the building to control traffic and pedestrians. Tiffany, whose corporate offices also are based in New York, has encouraged customers to enter its store through a side entrance.
Elsewhere, Tiffany’s business showed signs of improvement. The company posted third-quarter earnings and sales that topped analysts’ estimates — led by rebounding demand in Asia — sending the shares up in early trading.
If you enjoy the content at iBankCoin, please follow us on Twitter$TIF Good headline… ~8% biz comes from 5th Ave, diamonds = scam and the name of this band is Deep Blue Something. https://t.co/4emlW0VMlO
— Jeff Macke (@JeffMacke) November 29, 2016
if u believe Tiffany’s reported quarter, then u really are an idiot = sales across all luxury space softer than soft, from Richemont to swiss watch exports, all fukd…..
1. Speak english.
2. They beat.
3. Stock is +6.5%.
4. You’re irrelevant.
maybe read my post again- itz enrish enuff for u to opine. they beat, sure, as do many in this ponzi — did u review their actual #’s? stock could be up infinity%, so?
go fuk urself.
re: irrelevant: the average comments on ur blow are 4 or so…….lol…. that average is going to drop a bit now…. lol
Absolute drivel. Why the fuck do I deserve people like you is beyond me. Go fuck yourself, literally.
I’ve never seen a blog with bigger assholes in the comments section than here. Anywhere. The less you speak, the better.
said the “man of letter$” whose posts are typo-ridden. the “market” is absolute drivel and your life’s work dedicated to said drivel is what may require a bit more critical thought. English.
He’s probably Canadian.
Are you seriously calling into question my mastery of the English language? You’ve gone too far.
BANNED
LOL
You’ll laugh no more, since you’re banned, fucked face.
Fly, it is me George the-realest-mother-fucker-of-all-mothet-fuckin-time Soros.
Peaches called me from his mother’s basement whining about how you banned him again for pointing out facts and asking hard questions.
Stop banning people. Adversity is what freedom sounds like nigga.
Step your game up.
P.S. I will have my mother-fuckin revenge on Germany.
You people are degenerate morons. You say shit to people you would never say to someone standing in front of you with fists clenched. Have some decency and respect fucking fuckwad cowards, you’re talking from your sphincter.
Fly writes articles that tend to attract those who don’t actually manage any money (bc they don’t have any), and just want to see the world burn because of it. If he wrote about real asset allocation, value/momentum premia, tax efficiency, etc.. these people would get bored and move on. Those that do blog about these topics rarely get any comments at all. I don’t consider 25% in each of gold, bonds, cash, and shorts a real allocation because any money manager in that would lose all of his clients pretty quick. All that being said, the content here is still incredibly useful, and the deplorable commenters can/should be ignored.