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

Exclusive: Marubeni says Chinese authorities detain three staff at grain unitExclusive: Marubeni says Chinese authorities detain three staff at grain unit
TOKYO/BEIJING (Reuters) - Three employees at one of Marubeni Corp`s <8002.T> grain trading units in China have been detained by authorities, the Japanese trading house said on Thursday, a move...
U.S. judge denies Apple's move to hold off e-book antitrust trialU.S. judge denies Apple's move to hold off e-book antitrust trial
NEW YORK (Reuters) - A U.S. federal judge denied a bid by Apple Inc on Wednesday to hold off a trial in a case brought by state attorneys general accusing the company of conspiring with five major pub...
Japan's Mitsui O.S.K. ship ready to leave Chinese portJapan's Mitsui O.S.K. ship ready to leave Chinese port
TOKYO (Reuters) - Japanese shipping firm Mitsui O.S.K. Lines Ltd said on Thursday that its ship, the "Baosteel Emotion" 226,434 deadweight-ton ore carrier, is ready to leave a Chinese port soon after ...
Wal-Mart says former CEO Scott to retire from boardWal-Mart says former CEO Scott to retire from board
(Reuters) - Wal-Mart Stores Inc <WMT.N> said former Chief Executive Officer Lee Scott and board member Chris Williams will not stand for re-election to the retailer`s board. Scott will complet...
Apple resets the clock as investors await next big thingApple resets the clock as investors await next big thing
SAN FRANCISCO (Reuters) - Apple Inc just bought itself some much-needed time. On Wednesday, the company surprised Wall Street with news that it sold more iPhones in the March quarter than even the...

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.