Latest News

Save E-mail Print Most Popular RSS Reprints

Investor increases stake in Tiffany

January 18, 2008

Similar Stories | Topics

New York—An activist investor is buying up shares of another long-standing, well-known U.S. retail jewelry chain.

Nelson Peltz, through his New York-based company Trian Fund Management GP, LLC, increased his stake in Tiffany and Co. to 7.9 percent, a filing with the U.S. Securities and Exchange Commission (SEC) shows.

The filing shows Peltz, through his Trian companies, now owns a total of 10.7 million shares of stock in the iconic jewelry company.

Another activist investor, Richard Breeden, has also been buying stock in a jewelry store chain recently; he now owns an 18.1 percent share of the struggling Zale Corp.

In other Tiffany news on Friday, the company announced it is expanding its stock-repurchase program and authorized the repurchase of up to $500 million in common stock.

The increase enables Tiffany to repurchase up to $637 million of its common stock through Jan. 11, 2011.

The board's last increase took place in August 2006, when it authorized the repurchase of up to $813 million of stock through Dec. 31, 2009.

Tiffany has approximately 127 million shares outstanding.

Tiffany also announced the opening of two new stores in Japan: a 5,000-square-foot boutique in Tokyo, and a 1,700-square-foot one in Fukuoka.

With these openings, the New York-based luxury retail jeweler now operates 56 stores in Japan.
Save E-mail Print Most Popular RSS Reprints
Post a Comment
* Required field
* Author:
* Comment:
 

More Brand Profiles

Movado Lincoln Center Watch
Movado watch fetes 50 years of pirouettes, solos

A night out at the New York City Ballet or Jazz at Lincoln Center is bound to be memorable, but Movado hopes to help make it more so with a new version of its iconic "Museum" watch.  Read More

Raymond Weil forms U.S. distribution company
More News

More Like This

Peltz boosts Tiffany and Chemtura stakes
August 14, 2007 | National Jeweler Network
Tiffany looks to reduce staff through retirement plan
December 03, 2008 | National Jeweler Network
International Jewellery Kobe ends with solid results
June 05, 2008 | National Jeweler Network
IJT breaks attendance records
February 22, 2008 | National Jeweler Network
IJT launches online 'e-guidebook'
December 19, 2007 | National Jeweler Network
TOPICS
Business | Buybacks | Financial Markets | Stock Activity

Design Portfolio

advertisement

Video

Small multi video player located on right rail of NJN site

advertisement

Sponsored by:

Retailer Toolbar

America's Best Jewelers
Join the ONLY Social Network for Jewelry Retailers. Get access to expert content, peer best practices, and more.
Start networking today.
Newsletters
Newsletters
Topic-specific newsletters that deliver the latest news on jewelry, diamonds, wholesale operations and high-volume buying directly to your in-box.
Reader Connect
ReaderConnect
Supplier information presented with every article, bringing you related, actionable content on every topic.
Jewelry Yellow Pages
Yellow Pages
A comprehensive listing of associations, organizations, suppliers and services for the jewelry industry.
Classifieds
Classifieds
A comprehensive listing of job postings, product offerings and other materials for sale for the jewelry industry.
NJN Customer Connect
CustomerConnect
The most sophisticated suite of marketing services available for jewelry retailers, from Internet tools to data marketing.

advertisement