Tiffany & Co. Summary of Japan Exposure
(Source for data is 8-K and Press Release on 1-11-2011) 56 of 232 stores or 24% of Tiffany stores are in Japan 51 of 232 stores or 22% of Tiffany stores are in Asia (ex Japan) Fiscal 4Q2011 Net sales are expected to be $888.5 million Japan sales are expected to be $142.5 million or 16% of total sales Asia (ex Japan) sales are expected to be $138.9 million or 15.6% of total sales Michael J. Kowalski, chairman and chief executive officer, said, “… fiscal year ending January 31, 2011. We now expect net sales of almost $3.1 billion and net earnings from continuing operations (excluding nonrecurring items) of $2.83 - $2.88 per diluted share, versus a previous forecast made in November of $2.72 - $2.77.” It will take months, if not a year for the Japan market to stabilize. At the same time, Japan trades a substantial amount of goods with surrounding countries. I firmly believe the quarter that is February – April of 2011(fiscal 1Q2012) will be poor, as well as multipl