Tiffany’s Outshines Other Jewelers in 3Q

Tiffany & Co. outshone a number of other jewelry and watch sellers Tuesday, after its most recent quarter got a boost from sales in Asia. But investors took a close look at where all the retailers were positioned, with the winter shopping season set to begin in a few short days.

Tiffany reported that its quarterly net income climbed 50 percent, helped by gains in the Asia-Pacific region. It earned $94.6 million, or 73 cents per share, on revenue of $911.5 million, far exceeding analyst estimates of 58 cents per share on revenue of $888.4 million, according to FactSet. It also raised its full-year adjusted earnings forecasts above market estimates, and shares jumped nearly nine percent on  Tuesday.

The jewelry chain is considered a barometer of luxury spending. The latest results show that the affluent continue to spend, bolstered by a stock market that is reaching new highs.

Movado Group Inc., which makes high-end watches, reported that its third-quarter net income slipped to $23.4 million, or 89 cents per share, from $34.5 million, or $1.34 per share, last year. It earned 89 cents per share on an adjusted basis, versus 67 cents per share last year. Revenue increased 18 percent to $189.7 million. The quarter’s results beat market forecasts of 87 cents per share, on revenue of $184.4 million. The company said the gains were made on the popularity of its brands, which include Coach and Scuderia Ferrari watches.

Movado also said it is well-positioned for the season, and reiterated a full-year earnings forecast of $1.90 per share. However, analysts were anticipating $1.95 per share, and its stock fell. The company expects revenue for the year to come in at the high end of its prior forecast, at $580 million; analysts had predicted $579.7 million.

Shares of Movado fell four percent, to close at $45.54.

Signet Jewelers Ltd., which targets a less luxury-based crowd with its mall-based fine jewelry chains, Kay Jewelers and Jared in the U.S. and two U.K. chains, reported that its net income fell two percent, on costs tied to an acquisition last year. The company earned $33.6 million, or 42 cents per share, compared with $34.9 million, or 43 cents per share, last year. The latest quarter’s results matched analyst forecasts of 42 cents per share. Revenue increased nearly eight percent, to $771.4 million, missing market forecasts of $771.8 million.

The company said it is well-prepared for the shopping season, and forecast fourth-quarter earnings of $2.30 to $2.40 per share; analysts had forecast $2.36.

Shares of Signet increased $1.34 cents, nearly two percent, to close at $77.81.

Zale Corp. reported, after the market closed, that it narrowed its quarterly loss to $27.3 million, or 83 cents per share, from $28.3 million, or 88 cents per share, last year. The prior year included a six-cent-per share benefit from the settlement of a lawsuit. Revenue increased one percent, to $362.6 million. The quarter exceeded market forecasts for a loss of 85 cents per share on revenue of $360 million.

The company, which operates its namesake chain as well as Gordon’s Jewelers, did not issue a formal forecast. But it said it has expanded its exclusive product offerings, launched a new marketing campaign and “improved the store environment,” in preparation for the shopping season.

Shares added 55 cents, or almost four percent, to close at $14.83, and were unchanged in after-hours trading.