Last week, we revealed that Tiffany & Co. shares climbed a huge 4.6 percent (see the MO Down on 8 October). Today, it’s come to our attention that Zacks Equity Research singled Tiffany out as their “Bull of the Day” on October 7.
We read in a Reuters article that Zacks concluded, “Tiffany is well positioned to deliver robust sales and earnings growth.”
“Tiffany is concentrating more on smaller size store formats that offer selected collections of lower priced higher-margin products, which in turn enhance store productivity.” We’ve previously discussed Tiffany’s expansion of their ‘entry point’ sterling silver lines (see the MO Down for September 9).
Zacks went onto say that cost cutting through “reducing its headcount and trimming capital expenditure with fewer store openings” is contributing to the brand’s improved position.