Stock:
Symbol Lookup
Register | Login
...
History
...
...

Pre Market | Dow Jones | Gold | Newsletters | Learn


Tiffany & Co Extends Agreement with Designer Elsa Peretti (TIF)

Thursday, January 3, 2013 3:39 AM
Luxury Jewelry maker, Tiffany & Co. (NYSE: TIF) announced that it has renewed its agreement with Italian Jewelry designer Elsa Peretti, bringing relief for investors who were worried that ending deal with star designer would adversely dent results for a company already reeling under pressure. At present, jewelry designed by well-known Italian designer constitutes 10 percent of total sales for Tiffany. According to the deal, the New York based Company will continue to have exclusive rights to Peretti’s work and the licensing agreement last for 20 years. Elsa Peretti, who also worked with Halston, a high-end jewelry designer, will get royalties and $47 million, according to Tiffany’s regulatory filing on Wednesday. The agreement is likely to soothe both investors and Company’s nerves as Elsa Peretti said last year that she was disinclined to continue her contract with Tiffany & Co. According to Tiffany & Co,  ending  agreement with Elsa Peretti might have badly hurt its business. Meanwhile, Jefferies Group has maintained its “hold” rating on shares of Tiffany & Co.  In its research report to investors on Wednesday, the firm said that it currently keeps a price target on stock at $55. Several other Wall Street rating firms have commented on Tiffany & Co’s stock, lately. While analysts at Credit Agricole slashed their price target on shares of Tiffany & Co. from $69.00 to $65.00, keeping an “ outperform “rating on the stock, analysts at TheStreet, in a research note to investors on Dec 28, maintained  “buy” rating on shares of Tiffany & Co. On Wednesday, shares of Tiffany & Co gained 2.77 percent, closing at $58.93.
PRINT

FREE Options Trading Lessons
I'll show you how to unlock HUGE Gains with Options Trading
Let's make 2014 the year you get RICH!

Latest Headlines

Panasonic says to transfer Sanyo TV unit in U.S. to Funai ElectricPanasonic says to transfer Sanyo TV unit in U.S. to Funai Electric
TOKYO (Reuters) - Panasonic Corp said it is transferring its Sanyo television unit in the U.S., which supplies sets to Wal-Mart Stores, to Funai Electric Co. of Japan in return for annual royalty paym...
ECB faces test of its own as Europe braces for landmark banking reviewECB faces test of its own as Europe braces for landmark banking review
FRANKFURT (Reuters) - After putting the euro zone`s top 130 banks through their paces, the European Central Bank will face a test of its own on Sunday - will its landmark health check succeed in con...
Oman likely to start cutting subsidies next year -ministerOman likely to start cutting subsidies next year -minister
KUWAIT (Reuters) - Oman`s government is likely to start cutting some state subsidies next year as the decline in global oil prices pressures its finances, Minister for Financial Affairs Darwish al-B...
Deutsche Bank lawyer found dead by suicide in New YorkDeutsche Bank lawyer found dead by suicide in New York
BERLIN (Reuters) - A senior Deutsche Bank regulatory lawyer has been found dead in New York after committing suicide, New York City officials said on Saturday. Calogero Gambino, 41, was found on the...
Areva-Siemens raises claim to $4.4 billion over Finnish reactor delaysAreva-Siemens raises claim to $4.4 billion over Finnish reactor delays
HELSINKI (Reuters) - The French-German consortium Areva-Siemens <AREVA.PA><SIEGn.DE>, the supplier of Finland`s much-delayed Olkiluoto-3 nuclear reactor, has increased its claim against Fi...

Loading Headlines...
 

Stock Market

Track the stock market today with the latest news and information on all things investing! Watch your stocks perform throughout the day and watch the breaking stock market news.

Feedback | disclaimer | privacy policy

Stock Market News

The Stock Market is ever changing. Keep up on your stock market news.

Stock Market Newsletters

Read up on your favorite stock market newsletters.


Learn the Stock Market

Sharper your stock trading skills with our stock market education section.