The Trump Effect on Tiffany
MarketFoolery
The Motley Fool
4.7 • 1.7K Ratings
🗓️ 29 November 2016
⏱️ 26 minutes
🧾️ Download transcript
Summary
Tiffany’s strong sales in Japan and China were offset by lower traffic at its flagship store on 5th Avenue in New York City. The reason has something to do with the President-elect who lives NEXT DOOR. Bill Barker from Motley Fool Funds analyzes new guidance from UnitedHealth, a blowout quarter from Thor Industries, and tonight’s broadcast of “Rudolph the Red-Nosed Reindeer”. To check out The Motley Fool’s new skill for Amazon’s Echo just go to www.fool.com/alexa.
Transcript
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| 0:00.0 | It's Tuesday, November 29th. |
| 0:04.0 | Welcome to Market Foolery. |
| 0:05.0 | I'm Chris Hill. |
| 0:06.0 | Joining me in studio today for Motley Fool Funds, Bill Barker. |
| 0:09.0 | Thanks for being here. |
| 0:10.0 | Thanks for having me. |
| 0:11.0 | Thanks for braving the rain. My least favorite weather, cold rain. There was barely any rain. |
| 0:17.0 | Did you consider that bravery to walk through a couple drops or did you walk or drive? |
| 0:22.0 | I drove. You drove like four blocks in to be |
| 0:26.7 | clear spitting occasionally spitting rain to be clear I was attributing the |
| 0:31.1 | bravery to you and your genteel soul. We got some earnings news |
| 0:36.2 | we're going to get to. Why don't we start with Tiffany? Tiffany, I'm not saying standing ovation, but a round of applause for Tiffany for |
| 0:46.6 | posting its first sales increase in two years. |
| 0:50.7 | Third quarter profits came in much higher than expected and shares responding nicely. |
| 0:57.0 | Yeah, I think that after all the beatings that the stock has taken and this is following on I think |
| 1:07.3 | US sales down 9% the previous quarter now has improved to just down 2% on a comp basis. So moving in the right way, |
| 1:18.0 | right direction, maybe, although I think the cloud on the horizon here was the effect that all of the protests in New York around Trump Tower are having on the flagship, which is 8% of Tiffany global sales of the New York |
| 1:37.3 | flagship. |
| 1:38.4 | And not everybody wants to walk through the protesters to get to buy a diamond ring right now. |
| 1:45.0 | Kudos to whoever does the wordsmithing at Tiffany because I thought this was incredibly |
| 1:50.0 | artful because as you said the flagship store for Tiffany is right there on Fifth |
| 1:54.4 | Avenue in New York City right next door is Trump Tower. Here's how the |
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