Tiffany Jumps on Forecast (TIF)

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Jeweler Tiffany & Co. (NYSE: TIF) reported fourth quarter and full year results this morning. For the quarter, EPS missed the consensus estimate of $1.42, coming in at $1.39. Revenues were inline for the quarter at $1.19 billion.

Investors had been concerned that weak sales in November and December would carry over to January and into the new fiscal year starting in February. The company put some sparkle in investors’ eyes though when it forecast higher than expected EPS for the next fiscal year. Tiffany forecast earnings of $3.95-$4.05, higher than the consensus estimate of $3.93.

Shares are up nearly 7% at $73.43 in a 52-week range of $56.21-$84.49.

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