Last $88.84 USD
Change Today 0.00 / 0.00%
Volume 0.0
TIF On Other Exchanges
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As of 8:04 PM 10/17/14 All times are local (Market data is delayed by at least 15 minutes).

tiffany & co (TIF) Snapshot

Open
$91.50
Previous Close
$90.72
Day High
$91.71
Day Low
$88.65
52 Week High
08/27/14 - $105.66
52 Week Low
10/21/13 - $77.72
Market Cap
11.5B
Average Volume 10 Days
1.4M
EPS TTM
$4.28
Shares Outstanding
129.3M
EX-Date
09/18/14
P/E TM
20.7x
Dividend
$1.52
Dividend Yield
1.62%
Current Stock Chart for TIFFANY & CO (TIF)

tiffany & co (TIF) Details

Tiffany & Co., through its subsidiaries, designs, manufactures, and retails jewelry worldwide. The company operates through Americas, Asia-Pacific, Japan, Europe, and Other segments. Its jewelry products include fine and solitaire jewelry; engagement rings and wedding bands to brides and grooms; and non-gemstone, sterling silver, gold, and metal jewelry. The company also sells timepieces, leather goods, sterling silverware, china, crystal, stationery, fragrances, and accessories. Tiffany & Co. sells its products through retail sales, Internet and catalog sales, business-to-business sales, and wholesale distribution. As of April 30, 2014, it operated 292 stores, including 121 stores in the Americas, 72 stores in the Asia-Pacific, 55 stores in Japan, 38 stores in Europe, 5 stores in the United Arab Emirates, and 1 store in Russia. The company was founded in 1837 and is headquartered in New York, New York.

10,600 Employees
Last Reported Date: 04/1/14
Founded in 1837

tiffany & co (TIF) Top Compensated Officers

Chairman, Chief Executive Officer, Member of ...
Total Annual Compensation: $997.3K
President and Director
Total Annual Compensation: $847.7K
Senior Vice President of Merchandising
Total Annual Compensation: $835.5K
Executive Vice President
Total Annual Compensation: $738.0K
Compensation as of Fiscal Year 2013.

tiffany & co (TIF) Key Developments

Tiffany & Co. Completes Offering of $250,000,000 Aggregate Principal Amount of 3.800% Senior Notes Due 2024 and $300,000,000 Aggregate Principal Amount of 4.900% Senior Notes Due 2044 in A Private Placement

On September 25, 2014, Tiffany & Co. completed its previously announced offering of $250,000,000 aggregate principal amount of 3.800% senior notes due 2024 and $300,000,000 aggregate principal amount of 4.900% senior notes due 2044 in a private placement conducted pursuant to rule 144A and regulation s under the securities act of 1933, as amended. The notes are governed by an indenture, dated as of September 25, 2014, among the company, as issuer, and The Bank of New York Mellon Trust Company, N.A., as trustee, as amended and supplemented by supplemental indenture no. 1 and supplemental indenture no. 2, each by and among the company, certain of the company's subsidiaries named therein, as guarantors thereto, and The Bank of New York Mellon Trust Company, N.A., as trustee. The description of the indenture and the notes in this report are summaries only and are qualified in their entirety by the terms of the indenture and the notes, respectively. the company intends to use the net proceeds from the offering of the notes to redeem all of the aggregate principal outstanding of its (i) $100,000,000 principal amount of 9.05% series a senior notes due December 23, 2015; (ii) $125,000,000 principal amount of 10.0% series a-2009 senior notes due February 13, 2017; (iii) $50,000,000 principal amount of 10.0% series a senior notes due April 9, 2018; and (iv) $125,000,000 principal amount of 10.0% series b-2009 senior notes due February 13, 2019 prior to maturity in accordance with the respective note purchase agreements governing each series of private placement notes. The company intends to use any remaining net proceeds from the sale of the notes for general corporate purposes. The notes are the company's general unsecured obligations and rank equally in right of payment with all of the company's existing and future unsecured senior debt and rank senior in right of payment to all of the company's future subordinated debt. The notes are effectively subordinated to any of the company's future secured debt to the extent of the value of the assets securing such debt. Initially, the company's obligations under the notes are jointly and severally guaranteed by the guarantors, which are the same subsidiaries that guarantee the borrowings under the company's existing unsecured senior credit facilities. The company has recently announced that it is seeking commitments to replace the existing senior credit facilities with new unsecured senior credit facilities, which are also expected to be initially guaranteed by each of the guarantors. the guarantees of the notes, as well as the guarantees of the company's obligations under the new senior credit facilities, will automatically terminate at such time as the guarantors no longer guarantee any other indebtedness of the company, excluding indebtedness in an aggregate principal amount not to exceed $20,000,000. The guarantees rank equally in right of payment to all of the future unsecured senior debt and senior in right of payment to all of the guarantors' future subordinated debt. The guarantees are effectively subordinated to any of the guarantors' future secured debt to the extent of the value of the assets securing such debt. The notes are also structurally subordinated to the liabilities of subsidiaries of the company that have not guaranteed the notes. The 2024 notes bear interest at a rate of 3.800% per annum, accruing from September 25, 2014. Interest on the 2024 notes is payable semi-annually in arrears on April 1 and October 1 of each year, commencing on April 1, 2015. The 2044 notes bear interest at a rate of 4.900% per annum, accruing from September 25, 2014. Interest on the 2044 notes is payable semi-annually in arrears on April 1 and October 1 of each year, commencing on April 1, 2015. The Company will make each interest payment to the holders of record of the notes on the immediately preceding March 15 and September 15. The company may redeem all or part of the notes upon not less than 30 nor more than 60 days' prior notice at announced earnings results for the redemption price equal to the sum of (i) 100% of the principal amount of the notes to be redeemed, plus (ii) accrued and unpaid interest, if any, on those notes to the redemption date, plus (iii) a make-whole premium as of the redemption date. In addition, the company may redeem some or all of the 2024 notes on or after July 1, 2024, at a redemption price equal to the sum of 100% of the principal amount of the 2024 notes to be redeemed, together with accrued and unpaid interest, if any, on those 2024 Notes to the redemption date. The company may redeem some or all of the 2044 notes on or after April 1, 2044, at a redemption price equal to the sum of 100% of the principal amount of the 2044 notes to be redeemed, together with accrued and unpaid interest, if any, on those 2044 Notes to the redemption date.

Tiffany & Co. to Offer Senior Notes

Tiffany & Co. announced its intention to offer, subject to market and other conditions, its Senior Notes due 2024 and Senior Notes due 2044 in an aggregate principal amount of $500,000,000. The initial purchasers of the notes are expected to be Merrill Lynch, Pierce, Fenner & Smith Incorporated, Goldman, Sachs & Co., BNY Mellon Capital Markets, LLC, J.P. Morgan and Mizuho Securities. The company intends to use the net proceeds from the notes offering to redeem (i) all $100,000,000 principal amount outstanding of its 9.05% Series A Senior Notes due December 23, 2015; (ii) all $125,000,000 principal amount outstanding of its 10.0% Series A-2009 Senior Notes due February 13, 2017; (iii) all $50,000,000 principal amount outstanding of its 10.0% Series A Senior Notes due April 9, 2018; and (iv) all $125,000,000 principal amount outstanding of its 10.0% Series B-2009 Senior Notes due February 13, 2019 prior to maturity in accordance with the respective note purchase agreements governing such notes. The company intends to use any remaining net proceeds from the sale of the notes for general corporate purposes. The company also announced that it is seeking commitments to replace its existing $275,000,000 three year unsecured revolving credit facility maturing December 19, 2014 and $275,000,000 five year unsecured revolving credit facility maturing December 21, 2016 with a new $375,000,000 four year unsecured revolving credit facility and a new $375,000,000 five year unsecured revolving credit facility. The new credit facilities are expected to close after the closing of the notes offering. The notes will be fully and unconditionally guaranteed by certain of the company's subsidiaries. However, the guarantees of the notes will terminate automatically if the relevant subsidiary guarantor ceases to guarantee any other material indebtedness of the Company. The company expects that upon closing of the notes offering, execution of the new credit facilities and completion of certain other contemplated refinancing transactions, all subsidiary guarantees of the notes will be released. The notes will be offered and sold to qualified institutional buyers in the United States pursuant to Rule 144A and outside the United States pursuant to Regulation S under the Securities Act of 1933, as amended.

Tiffany Appoints Jill Beraud as New Executive Vice President, Effective October 13, 2014

Tiffany & Co. announced that it has named Jill Beraud as an executive vice president, effective October 13, 2014. Ms. Beraud will have responsibility for Global Retail Operations including all sales channels in every region, as well as oversight of strategic store development and real estate. Ms. Beraud will report to Frederic Cumenal, president, who, as previously announced, will become Tiffany's chief executive officer effective April 1, 2015. Ms. Beraud, 54, joins Tiffany from Living Proof where she has been chief executive officer since 2011. Prior to that, her experience includes senior-level executive and marketing roles at PepsiCo Inc., L Brands Inc. and The Procter & Gamble Company, among others.

 

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TIF

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Valuation TIF Industry Range
Price/Earnings 47.8x
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