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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Macys Inc | NYSE:M | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| -0.20 | -1.09% | 18.23 | 18.55 | 18.015 | 18.41 | 4,464,931 | 00:02:06 |
From May 2019 to May 2024
Tiffany & Co. said Thursday that it has approved a new stock-buyback program of up to $500 million through Jan. 31, 2019.
The repurchase authorization replaces an existing program that had about $61 million available for repurchases as of Wednesday.
The company's market capitalization is about $7.8 billion.
On Tuesday, the luxury retailer said "challenging and uncertain global economic conditions" have resulted in restrained consumer spending, and a stronger U.S. dollar continues to dent foreign tourist spending. For the crucial holiday shopping season, Tiffany reported a 3% currency-adjusted drop in world-wide sales and a 5% decline in sales at stores open at least a year.
Tiffany is one of many retailers that posted disappointing holiday sales. Earlier this month, Macy's Inc. said it would cut thousands of jobs and reported that sales at existing stores in November and December fell 4.7%.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
January 21, 2016 18:35 ET (23:35 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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