Maintaining Our FVE, as Tiffany Focuses on Newness, Creative Marketing, Store Revamp, Omnichannel
We don’t foresee meaningful changes in our fair value estimate for Tiffany after the firm reported 2017 sales that were in line with guidance and our estimates, and operating profit 3% above our expectations. We expect to make some adjustments to the timing of the tax reform benefit, but this shouldn't have a material impact on our valuation.Fashion and fine jewelry led the performance, while engagement remained in negative territory for the year. Asia-Pacific and Europe saw the strongest reven...
Tiffany & Co. is a holding company that operates through its principal subsidiary, Tiffany and Company. Through its subsidiaries, the company designs and manufactures products and operates TIFFANY & CO. retail stores worldwide, and also sells its products through Internet, catalog, business-to-business and wholesale distribution. The company's principal product category is jewelry. The company provides a selection of TIFFANY & CO. brand jewelry at a range of prices. The company also sells watches, home and accessories products and fragrances. The company has four reportable segments: (i) Americas, (ii) Asia-Pacific, (iii) Japan and (iv) Europe.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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