Tiffany: Bling It On, Janet Yellen Graduates and Missed Target

Shine on…

Image courtesy of Boykung/FreeDigitalPhotos.net

Image courtesy of Boykung/FreeDigitalPhotos.net

Tiffany & Co. (TIF)  and its iconic little blue box had a very luxurious quarter. They just might be the only company who didn’t take issue with the particularly infuriating winter. Even if that nasty little season did toy a bit with the company’s northeast stores nobody probably wants to hear about it considering its net income rose about 50%. In fact, not only did it beat the Street’s expectations, it shattered them. Analysts thought the ultra luxury retailer would pull in about $953 million dollars. But oh no. They came in at a whopping $1 billion. Ironically, a much of that success stems from the less-expensive collections. Yes. Tiffany & Co. does believe itself to have a less expensive collection. Now please collect yourself. But to be fair, consumers were also taking a shine to their colored diamonds as well. And well who doesn’t like a diamond no matter what the color?

 Class act…

Image courtesy of hywards/FreeDigitalPhotos.net

Image courtesy of hywards/FreeDigitalPhotos.net

Federal Reserve Chairwoman Janet Yellen received her degree. Okay so it was an honorary one from NYU. But it will look awfully pretty next to the one she received from Yale where she earned her PhD in economics many years ago. Before a crowd of graduates and their kvelling families gathered in Yankee Stadium, she delivered an address to the class of 2014 in which she said ability is good but it’s how much grit you have that will ultimately determine your success. “You wont succeed all the time. I hope you can find joy in the lives you choose.” Words of a wisdom from a genuinely wise woman. She also gave props to her predecessor, Ben Bernanke. The first female to head the Federal reserve, she was joined by fellow honorees Supreme Court Justice Elena Kagan, Yankees pitching great Mariano Rivera and legendary singer Aretha Franklin.

Missing the mark…

Image courtesy of ddpavumba/FreeDigitalPhotos.net

Image courtesy of ddpavumba/FreeDigitalPhotos.net

Target can’t seem to shake that pesky mark on its back after coming out with earnings that tanked 16%. Of course that massive fiasco of a data breach that cost the company $26 million is still looming large and certainly contributed to its disappointing – though not unexpected – performance. But then there was Canada! Oh Canada. The foray to our friendly neighbors to the north didn’t work out quite the way Target hoped. Those embarrasing inventory shortages were not exactly the stuff successful expansions are made of and so the president of its Canadian operations was shown the door.

 

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