Today we are watching…
1. Tiffany and Co (#tifny)
Investors will be hoping for a precious treat in their little blue box of earnings today as a world-famous jeweler, Tiffany, reports its numbers. The company’s line of watches has gone down very well among fans of the brand this year, leading management to double down on wrist bling heading into the second quarter. Tiffany’s evenly spread international presence should diversify away the risks of a struggling currency here or there but could make brand enhancement tricky in varying cultures. Word on the Street is that Tiffany will bag investors $1.05 in profit per share this quarter, on $1.07 billion in revenues!
2. Coty (#cotyinc)
The only way is up for investors in Coty, the cosmetics giant. That is unless the firm suffers another earnings miss today and gets sucked even lower than the 80% losses that made it 2018’s worst-performing stock. Sometimes big bets don’t pay off. That may have happened to Coty, spending big on over forty Procter & Gamble brands which quickly took a hit as consumer behavior changed. Beauty queens began treating their makeup as a higher-end product, rather than merely a convenience good. So, the turnaround plan? Get costs down and fix its inefficient supply chain. Analysts are expecting $0.16 of profit per share on $2.13 billion in revenues.