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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