Deutsche Bank Previews Tiffany & Co. Q1 Results

Deutsche Bank is previewing Tiffany & Co.'s TIF Q1 results. “Our sales growth forecasts (+9% reported, ow 3% FX) are based on a very healthy trends in US (+9% ow 5% comps), Europe (23% ow 7% comps) and Asia ex Japan (+36% ow 20% comps), while we expect Japan to be down 29% yoy as a result of a very sound performance until 11 March and a significant drop (we estimate over 50% fall) in the last 40 days of the quarter,” Deutsche Bank writes. “The Yen should have helped with a positive 10pp contribution.” Tiffany closed Wednesday at $70.13.