Tuesday, 25 May 2010
Last week we brought you news of the successful strategies used by Tiffany & Co. during the recession. This week, in the anticipation of their first quarter due this Thursday, May 27th, the company have announced they are expecting an 11% increase compared to 2009.
In addition, Tiffany & Co. have “announced a 25 percent increase in its quarterly dividend ahead of its first quarter earnings report on Thursday.” The company also announced a higher dividend per share, compared to previous results.
It seems chairman and CEO Michael Kowalski is on the right track, with the company reporting a 25% increase on their previous quarter increase of 18%- nice work if you can get it!
As Reuters suggests, an increase in consumer spending is allowing companies like Tiffany & Co. to let some of their cash free, in the form of higher dividends. As we have seen the euro falling recently, Tiffany & Co. raised its dividend, aiming for a blue egg-shell sky day!
Image credit: tiffany.com
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Melinda O’Rourke is the founder and Director of MO Luxury, a dynamic, Sydney-based management firm specialising in luxury brands and services. Melinda and her associates at MO work with local and international brands across prestige retail, fashion, fine jewellery, timepieces and specialised services. Melinda is well-connected, well-read, and well-versed in the demands of the luxury market and its client base. Her advice is firmly based in objectivity and ultimately, accountability. Melinda offers constructive counsel and both strategic and creative thinking and is able to draw upon a strong network of specialised talent to compliment the MO Luxury team as needed. Melinda enjoys excellent industry relationships and is regularly quoted in the business and fashion media. Read more about MO Luxury, www.moluxury.com.au