Intrinsic value of Tiffany& - TIF

Previous Close

$136.11

  Intrinsic Value

$69.97

stock screener

  Rating & Target

sell

-49%

Previous close

$136.11

 
Intrinsic value

$69.97

 
Up/down potential

-49%

 
Rating

sell

We calculate the intrinsic value of TIF stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2018), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 17.0

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047
   2048

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  4.20
  4.28
  4.35
  4.42
  4.48
  4.53
  4.57
  4.62
  4.66
  4.69
  4.72
  4.75
  4.77
  4.80
  4.82
  4.84
  4.85
  4.87
  4.88
  4.89
  4.90
  4.91
  4.92
  4.93
  4.94
  4.94
  4.95
  4.95
  4.96
  4.96
Revenue, $m
  4,345
  4,531
  4,728
  4,937
  5,158
  5,392
  5,638
  5,899
  6,173
  6,463
  6,768
  7,089
  7,428
  7,784
  8,159
  8,553
  8,968
  9,405
  9,864
  10,346
  10,854
  11,387
  11,947
  12,536
  13,155
  13,805
  14,488
  15,206
  15,960
  16,752
Variable operating expenses, $m
  2,446
  2,551
  2,662
  2,780
  2,904
  3,035
  3,174
  3,321
  3,476
  3,639
  3,810
  3,991
  4,182
  4,382
  4,594
  4,816
  5,049
  5,295
  5,553
  5,825
  6,111
  6,411
  6,726
  7,058
  7,406
  7,772
  8,157
  8,561
  8,985
  9,431
Fixed operating expenses, $m
  1,072
  1,096
  1,120
  1,144
  1,170
  1,195
  1,222
  1,248
  1,276
  1,304
  1,333
  1,362
  1,392
  1,423
  1,454
  1,486
  1,519
  1,552
  1,586
  1,621
  1,657
  1,693
  1,730
  1,768
  1,807
  1,847
  1,888
  1,929
  1,972
  2,015
Total operating expenses, $m
  3,518
  3,647
  3,782
  3,924
  4,074
  4,230
  4,396
  4,569
  4,752
  4,943
  5,143
  5,353
  5,574
  5,805
  6,048
  6,302
  6,568
  6,847
  7,139
  7,446
  7,768
  8,104
  8,456
  8,826
  9,213
  9,619
  10,045
  10,490
  10,957
  11,446
Operating income, $m
  827
  884
  947
  1,013
  1,085
  1,161
  1,242
  1,329
  1,422
  1,520
  1,625
  1,736
  1,854
  1,979
  2,112
  2,252
  2,401
  2,558
  2,724
  2,900
  3,086
  3,283
  3,491
  3,710
  3,941
  4,186
  4,444
  4,716
  5,003
  5,305
EBITDA, $m
  927
  989
  1,056
  1,127
  1,204
  1,285
  1,373
  1,465
  1,564
  1,670
  1,781
  1,900
  2,026
  2,159
  2,300
  2,450
  2,608
  2,775
  2,952
  3,139
  3,337
  3,546
  3,767
  3,999
  4,245
  4,505
  4,778
  5,067
  5,371
  5,692
Interest expense (income), $m
  41
  48
  52
  57
  63
  69
  75
  81
  88
  95
  102
  110
  119
  127
  137
  146
  157
  167
  179
  191
  203
  216
  230
  245
  260
  276
  293
  311
  330
  349
  370
Earnings before tax, $m
  779
  832
  889
  950
  1,016
  1,086
  1,161
  1,242
  1,327
  1,418
  1,515
  1,617
  1,727
  1,842
  1,965
  2,095
  2,233
  2,379
  2,534
  2,697
  2,870
  3,053
  3,246
  3,450
  3,665
  3,892
  4,133
  4,386
  4,653
  4,935
Tax expense, $m
  210
  225
  240
  257
  274
  293
  314
  335
  358
  383
  409
  437
  466
  497
  531
  566
  603
  642
  684
  728
  775
  824
  876
  931
  990
  1,051
  1,116
  1,184
  1,256
  1,333
Net income, $m
  569
  607
  649
  694
  742
  793
  848
  906
  969
  1,035
  1,106
  1,181
  1,260
  1,345
  1,435
  1,530
  1,630
  1,737
  1,850
  1,969
  2,095
  2,228
  2,369
  2,518
  2,675
  2,841
  3,017
  3,202
  3,397
  3,603

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  5,106
  5,324
  5,556
  5,802
  6,061
  6,336
  6,625
  6,931
  7,254
  7,594
  7,953
  8,331
  8,728
  9,147
  9,588
  10,051
  10,539
  11,052
  11,591
  12,158
  12,754
  13,381
  14,039
  14,731
  15,458
  16,222
  17,025
  17,868
  18,754
  19,685
Adjusted assets (=assets-cash), $m
  5,106
  5,324
  5,556
  5,802
  6,061
  6,336
  6,625
  6,931
  7,254
  7,594
  7,953
  8,331
  8,728
  9,147
  9,588
  10,051
  10,539
  11,052
  11,591
  12,158
  12,754
  13,381
  14,039
  14,731
  15,458
  16,222
  17,025
  17,868
  18,754
  19,685
Revenue / Adjusted assets
  0.851
  0.851
  0.851
  0.851
  0.851
  0.851
  0.851
  0.851
  0.851
  0.851
  0.851
  0.851
  0.851
  0.851
  0.851
  0.851
  0.851
  0.851
  0.851
  0.851
  0.851
  0.851
  0.851
  0.851
  0.851
  0.851
  0.851
  0.851
  0.851
  0.851
Average production assets, $m
  1,004
  1,047
  1,092
  1,140
  1,192
  1,245
  1,302
  1,363
  1,426
  1,493
  1,563
  1,638
  1,716
  1,798
  1,885
  1,976
  2,072
  2,173
  2,279
  2,390
  2,507
  2,630
  2,760
  2,896
  3,039
  3,189
  3,347
  3,513
  3,687
  3,870
Working capital, $m
  1,894
  1,976
  2,062
  2,153
  2,249
  2,351
  2,458
  2,572
  2,692
  2,818
  2,951
  3,091
  3,238
  3,394
  3,557
  3,729
  3,910
  4,101
  4,301
  4,511
  4,732
  4,965
  5,209
  5,466
  5,736
  6,019
  6,317
  6,630
  6,958
  7,304
Total debt, $m
  969
  1,063
  1,163
  1,269
  1,381
  1,499
  1,624
  1,756
  1,895
  2,042
  2,196
  2,359
  2,530
  2,711
  2,901
  3,100
  3,311
  3,532
  3,764
  4,008
  4,265
  4,535
  4,819
  5,117
  5,431
  5,760
  6,106
  6,470
  6,851
  7,253
Total liabilities, $m
  2,201
  2,295
  2,395
  2,500
  2,612
  2,731
  2,856
  2,987
  3,127
  3,273
  3,428
  3,590
  3,762
  3,942
  4,132
  4,332
  4,542
  4,763
  4,996
  5,240
  5,497
  5,767
  6,051
  6,349
  6,662
  6,992
  7,338
  7,701
  8,083
  8,484
Total equity, $m
  2,905
  3,030
  3,161
  3,301
  3,449
  3,605
  3,770
  3,944
  4,128
  4,321
  4,525
  4,740
  4,966
  5,205
  5,455
  5,719
  5,997
  6,288
  6,595
  6,918
  7,257
  7,614
  7,988
  8,382
  8,796
  9,230
  9,687
  10,167
  10,671
  11,201
Total liabilities and equity, $m
  5,106
  5,325
  5,556
  5,801
  6,061
  6,336
  6,626
  6,931
  7,255
  7,594
  7,953
  8,330
  8,728
  9,147
  9,587
  10,051
  10,539
  11,051
  11,591
  12,158
  12,754
  13,381
  14,039
  14,731
  15,458
  16,222
  17,025
  17,868
  18,754
  19,685
Debt-to-equity ratio
  0.330
  0.350
  0.370
  0.380
  0.400
  0.420
  0.430
  0.450
  0.460
  0.470
  0.490
  0.500
  0.510
  0.520
  0.530
  0.540
  0.550
  0.560
  0.570
  0.580
  0.590
  0.600
  0.600
  0.610
  0.620
  0.620
  0.630
  0.640
  0.640
  0.650
Adjusted equity ratio
  0.569
  0.569
  0.569
  0.569
  0.569
  0.569
  0.569
  0.569
  0.569
  0.569
  0.569
  0.569
  0.569
  0.569
  0.569
  0.569
  0.569
  0.569
  0.569
  0.569
  0.569
  0.569
  0.569
  0.569
  0.569
  0.569
  0.569
  0.569
  0.569
  0.569

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  569
  607
  649
  694
  742
  793
  848
  906
  969
  1,035
  1,106
  1,181
  1,260
  1,345
  1,435
  1,530
  1,630
  1,737
  1,850
  1,969
  2,095
  2,228
  2,369
  2,518
  2,675
  2,841
  3,017
  3,202
  3,397
  3,603
Depreciation, amort., depletion, $m
  100
  105
  109
  114
  119
  125
  130
  136
  143
  149
  156
  164
  172
  180
  188
  198
  207
  217
  228
  239
  251
  263
  276
  290
  304
  319
  335
  351
  369
  387
Funds from operations, $m
  669
  712
  758
  808
  861
  918
  978
  1,043
  1,111
  1,184
  1,262
  1,344
  1,432
  1,525
  1,623
  1,727
  1,837
  1,954
  2,077
  2,208
  2,346
  2,491
  2,645
  2,808
  2,979
  3,160
  3,351
  3,553
  3,766
  3,990
Change in working capital, $m
  76
  81
  86
  91
  96
  102
  108
  114
  120
  126
  133
  140
  148
  155
  163
  172
  181
  190
  200
  210
  221
  232
  244
  257
  270
  283
  298
  313
  329
  345
Cash from operations, $m
  593
  631
  672
  717
  764
  816
  871
  929
  992
  1,058
  1,129
  1,204
  1,284
  1,369
  1,460
  1,555
  1,656
  1,764
  1,877
  1,997
  2,125
  2,259
  2,401
  2,551
  2,710
  2,877
  3,054
  3,240
  3,437
  3,645
Maintenance CAPEX, $m
  -96
  -100
  -105
  -109
  -114
  -119
  -125
  -130
  -136
  -143
  -149
  -156
  -164
  -172
  -180
  -188
  -198
  -207
  -217
  -228
  -239
  -251
  -263
  -276
  -290
  -304
  -319
  -335
  -351
  -369
New CAPEX, $m
  -43
  -43
  -46
  -48
  -51
  -54
  -57
  -60
  -63
  -67
  -70
  -74
  -78
  -82
  -87
  -91
  -96
  -101
  -106
  -111
  -117
  -123
  -129
  -136
  -143
  -150
  -158
  -166
  -174
  -183
Cash from investing activities, $m
  -139
  -143
  -151
  -157
  -165
  -173
  -182
  -190
  -199
  -210
  -219
  -230
  -242
  -254
  -267
  -279
  -294
  -308
  -323
  -339
  -356
  -374
  -392
  -412
  -433
  -454
  -477
  -501
  -525
  -552
Free cash flow, $m
  454
  488
  522
  559
  599
  643
  689
  739
  792
  849
  909
  974
  1,042
  1,116
  1,193
  1,276
  1,363
  1,456
  1,554
  1,658
  1,768
  1,885
  2,008
  2,139
  2,277
  2,423
  2,577
  2,740
  2,911
  3,093
Issuance/(repayment) of debt, $m
  86
  94
  100
  106
  112
  118
  125
  132
  139
  147
  155
  163
  171
  180
  190
  200
  210
  221
  232
  244
  257
  270
  284
  298
  313
  329
  346
  363
  382
  401
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  86
  94
  100
  106
  112
  118
  125
  132
  139
  147
  155
  163
  171
  180
  190
  200
  210
  221
  232
  244
  257
  270
  284
  298
  313
  329
  346
  363
  382
  401
Total cash flow (excl. dividends), $m
  540
  582
  622
  665
  711
  761
  814
  871
  931
  995
  1,064
  1,137
  1,214
  1,296
  1,383
  1,475
  1,573
  1,677
  1,786
  1,903
  2,025
  2,155
  2,292
  2,437
  2,590
  2,752
  2,923
  3,103
  3,293
  3,494
Retained Cash Flow (-), $m
  -118
  -124
  -132
  -140
  -148
  -156
  -165
  -174
  -184
  -194
  -204
  -215
  -226
  -238
  -251
  -264
  -277
  -292
  -307
  -323
  -339
  -356
  -375
  -394
  -414
  -435
  -457
  -480
  -504
  -530
Prev. year cash balance distribution, $m
  446
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  29
  30
  32
  33
  35
  36
  38
  39
  41
  43
  45
  47
  50
  52
  54
  57
  60
  63
  66
  69
  72
  76
  80
  84
  88
  92
  97
  101
  106
  112
Cash available for distribution, $m
  868
  458
  490
  525
  564
  605
  649
  696
  747
  802
  860
  922
  988
  1,058
  1,132
  1,212
  1,296
  1,385
  1,480
  1,580
  1,686
  1,799
  1,918
  2,044
  2,177
  2,317
  2,466
  2,623
  2,789
  2,964
Discount rate, %
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
  832
  419
  427
  433
  437
  439
  438
  435
  429
  420
  408
  393
  375
  355
  332
  308
  282
  255
  228
  201
  174
  149
  126
  104
  85
  68
  53
  41
  30
  22
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Tiffany & Co. is a holding company that operates through its subsidiary companies. The Company's principal subsidiary, Tiffany and Company (Tiffany), is a jeweler and specialty retailer. The Company's segments include Americas, Asia-Pacific, Japan, Europe and Other. Through its subsidiaries, the Company designs and manufactures products and operates TIFFANY & CO. retail stores around the world, and also sells its products through Internet, catalog, business-to-business and wholesale operations. The Company also sells timepieces, leather goods, sterling silverware, china, crystal, stationery, fragrances and accessories. The Americas segment includes sale in Company-operated TIFFANY & CO. stores in the United States, Canada and Latin America. As of January 31, 2017, the Asia-Pacific segment included 85 Company-operated TIFFANY & CO. stores. As of January 31, 2017, the Japan segment included 55 Company-operated TIFFANY & CO. stores. The Other segment consists of non-reportable segments.

FINANCIAL RATIOS  of  Tiffany& (TIF)

Valuation Ratios
P/E Ratio 38
Price to Sales 4.2
Price to Book 5.6
Price to Tangible Book
Price to Cash Flow 24.1
Price to Free Cash Flow 35.4
Growth Rates
Sales Growth Rate -2.5%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -11.9%
Cap. Spend. - 3 Yr. Gr. Rate 0.2%
Financial Strength
Quick Ratio 4
Current Ratio 0
LT Debt to Equity 29.1%
Total Debt to Equity 36.7%
Interest Coverage 18
Management Effectiveness
Return On Assets 9.3%
Ret/ On Assets - 3 Yr. Avg. 9.8%
Return On Total Capital 11%
Ret/ On T. Cap. - 3 Yr. Avg. 11.7%
Return On Equity 15.1%
Return On Equity - 3 Yr. Avg. 16.2%
Asset Turnover 0.8
Profitability Ratios
Gross Margin 62.2%
Gross Margin - 3 Yr. Avg. 60.9%
EBITDA Margin 23.2%
EBITDA Margin - 3 Yr. Avg. 23.3%
Operating Margin 18%
Oper. Margin - 3 Yr. Avg. 18.4%
Pre-Tax Margin 16.9%
Pre-Tax Margin - 3 Yr. Avg. 17.2%
Net Profit Margin 11.1%
Net Profit Margin - 3 Yr. Avg. 11.3%
Effective Tax Rate 34.1%
Eff/ Tax Rate - 3 Yr. Avg. 34.4%
Payout Ratio 49.1%

TIF stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the TIF stock intrinsic value calculation we used $4170 million for the last fiscal year's total revenue generated by Tiffany&. The default revenue input number comes from 2018 income statement of Tiffany&. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our TIF stock valuation model: a) initial revenue growth rate of 4.2% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for TIF is calculated based on our internal credit rating of Tiffany&, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Tiffany&.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of TIF stock the variable cost ratio is equal to 56.3%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $1049 million in the base year in the intrinsic value calculation for TIF stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Tiffany&.

Corporate tax rate of 27% is the nominal tax rate for Tiffany&. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the TIF stock is equal to 0.7%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for TIF are equal to 23.1%.

Life of production assets of 10 years is the average useful life of capital assets used in Tiffany& operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for TIF is equal to 43.6%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $3233 million for Tiffany& - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 125 million for Tiffany& is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Tiffany& at the current share price and the inputted number of shares is $17.0 billion.

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COMPANY NEWS

▶ Tiffany & Co. Has Built a Secret Lab of Shiny Dreams   [Jul-18-18 04:00AM  Bloomberg]
▶ Retail is going to see a strong back half: Kniffen   [Jul-02-18 02:29PM  CNBC Videos]
▶ [$$] To Reach Millennials, High-End Jewelers Try New Productsand Approach   [Jun-19-18 07:42PM  The Wall Street Journal]
▶ Trade of the Day: SPDR S&P Homebuilders ETF (XHB)   [Jun-18-18 09:16AM  InvestorPlace]
▶ This Highflying Retailer, 2 Tech IPOs To Report: Investing Action Plan   [Jun-05-18 04:12PM  Investor's Business Daily]
▶ Like long-term outlook for banks: Retail investor   [May-31-18 03:23PM  CNBC Videos]
▶ De Beers decision to sell man-made diamonds may upend business   [May-29-18 01:24PM  Yahoo Finance Video]
▶ Tiffany Skyrockets 19% on Quarterly Report   [May-25-18 12:54PM  Motley Fool]
▶ Which Companies Are Now Outperforming 95% Of All Stocks?   [10:35AM  Investor's Business Daily]
▶ Company News For May 24, 2018   [10:22AM  Zacks]
▶ Tiffany & Co. raises dividend by 10%   [09:21AM  MarketWatch]
▶ Tiffany Increases Quarterly Dividend by 10%   [09:15AM  Business Wire]
▶ Stocks To Watch: Tiffany Sees RS Rating Jump To 91   [03:00AM  Investor's Business Daily]
▶ Why Tiffany & Co. Stock Skyrocketed Today   [06:24PM  Motley Fool]
▶ Williams-Sonoma Stock Soars Late On Strong Guidance, Earnings   [05:26PM  Investor's Business Daily]
▶ Tiffany Blasts Through Buy Zone After Crushing Earnings Views   [04:54PM  Investor's Business Daily]
▶ Tiffany & Co. Sees a Strong Market in Asia   [04:33PM  TheStreet.com]
▶ Find out why retail stocks are soaring   [01:39PM  CNBC Videos]
▶ [$$] Tiffany Tops Views, Boosts Guidance   [08:27AM  The Wall Street Journal]
▶ Tiffany: Fiscal 1Q Earnings Snapshot   [06:51AM  Associated Press]
▶ Tiffany Reports First Quarter Results:   [06:40AM  Business Wire]
▶ Tiffany Earnings: More Carats Than Sticks   [May-22-18 11:11AM  Barrons.com]
▶ Can the Man Who Made Coach Remake Tiffany?   [May-01-18 12:00AM  Bloomberg]
▶ The 1 Big Idea These Jewelry Brands Are Betting On   [Apr-06-18 09:23AM  Motley Fool]
▶ [$$] Lords of the Rings: Tiffany Stock Buys and Sales   [Apr-03-18 08:00AM  Barrons.com]
▶ The Secret Inside Tiffany's Blue Box: Reed Krakoff   [09:59AM  The Wall Street Journal]
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