Tiffany and Co. (TIF)

[Amaunet]

Zacks Issues Buy Recommendation on Tiffany

Excerpt:

Here is a synopsis of why these stocks have a Zacks Rank of 2 (Buy). Note that a
#2 Buy rating is applied to 15% of all the stocks we rank:

Tiffany & Co. (NYSE:TIF) is the internationally renowned retailer, designer,
manufacturer and distributor of fine jewelry, timepieces, sterling silverware,
and accessories. In the middle of a rough environment, TIF was able to post net
earnings of 24 cents per diluted share in the first quarter, ended April 30,
2003, and net sales at $395.8 million. The earnings result surpassed the
consensus by a penny and eclipsed the year-ago result of 22 cents by +10%.
Meanwhile, net sales advanced by +14% due to growth in U.S. and international
markets. As a result of the quarterly performance, TIF said it remains on track
with the annual expectations for 2003 that it announced in February. The company
said that these results confirm TIF's consistent focus on its proven, long-term
growth strategy is sound. At about the same time, the company's board of
directors increased its quarterly dividend on its common stock by +25% to 5
cents per share from 4 cents, to be paid on July 10, 2003 to stockholders of
record on June 20, 2003. With results like these in a challenging environment,
TIF may be the crown jewel of your portfolio.