Stock Price

Tiffany & Co.'s stock price is now at $61 which is relatively higher than earlier in the semester when it was in the $40 range!

Strong Culture

Tiffany & Co. has a very strong culture....there is a dominating presence of certain deeply rooted values and operating approaches that "regulate" the conduct of the company's business and the climate of its workplace.  The company emphasizes social responsibility and participates in many events to help the environment, promote social responsibility, and energy conservation.  They have very high standards and demonstrate a strong culture by holding these standards high.

Outsourcing.....

The majority of the gold and silver used in Tiffany & Co. jewelry workshops is obtained from a single U.S. mine that meets high standards of social and environmental responsibility.  Once mined, these precious metals are processed in a fabrication plant dedicated to responsibly sourced materials.  The precious metals are transferred to Tiffany & Co.'s workshops or those of their manufacturing partners. 

Tiffany & Co., to ensure the integrity of their supply chain, created Laurelton Diamonds, a wholly owned subsidiary that procures rough diamonds and manages their worldwide supply chain that sources, cuts, polishes and supplies finished stones to Tiffany. 

Rather than outsourcing, Tiffany has integrated into their supply chain.  This creates a strong position for Tiffany & Co. because they do not have to depend upon suppliers for their diamond and precious metals that they need for production.

The Role of the Board in Corporate Governance

The Board plays several important roles in the governance of the Company, as set out in the Company's Corporate Governance Principles. The responsibilities of the Board include:

• Management succession;
• Review and approval of the annual operating plan prepared by management;
• Monitoring of performance in comparison to the operating plan;
• Review and approval of the Company's five-year strategic plan prepared by management;
• Consideration of topics of relevance to the Company's ability to carry out its strategic plan;
• Review and approval of a delegation of authority by which management carries out the day-to-day operations of the Company and its subsidiaries;
• Review of the Company's investor relations program;
• Review of the Company's schedule of insurance coverage; and
• Review and approval of significant actions by the Company.

Non-management directors meet regularly in executive session without management participation. This encourages open discussion. At those meetings, Charles K. Marquis, Chairman of the Nominating/Corporate Governance Committee, presides. In addition, at least once per year the independent directors meet separately in executive session.

Decision Making Structure

As far as decision making is concerned, Tiffany & Co. operates under a Board of Directors that has nine members.  They must oversee the Company's management regarding executive decisions concerning executive officers/compensation, audit committees, etc.  When it comes to the day-to-day operations of the Company, the management makes those decisions.  Each operating store has a store manager that oversees the employees for that retail store.  Corporate Headquarters, located in New York, is the location of where the executive officers conduct business and have their offices.

Tiffany & Co. Beats Analysts Forecasts....

Luxury jewelry retailer Tiffany & Co. posted first quarter earnings this year that substantially beat analysts' estimates.  Operational earnings "more than doubled to 48 cents a share" while analysts expected the company to make only 37 cents a share.  Tiffany's stock price moved 8.7 percent higher on the news.

The largest category of sales increase was for items priced above $50,000, primarily engagement and celebration rings.  However, overall sales were robust with U.S. stores posting a 13 percent increase over the previous year.  Tiffany now expects earnings per share to fall between $2.55 and $2.60 for the year.  A previous consensus forecast from 20 analysts expected the company to post earnings of $2.50 per share.

Tiffany & Co. Introduces the 2010-2011 Blue Book Collection

On October 23, 2010 - Tiffany & Co. celebrated its great heritage as a premier jeweler and diamond authority with the 2010-2011 Blue Book Collection, the jeweler's annual presentation of the world's most spectacular diamond and gemstone jewels.