<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
-----------------------
FORM 8-K
CURRENT REPORT
-----------------------
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): April 17, 1998
TIFFANY & CO.
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
DELAWARE 1-9494 13-3228013
(STATE OR OTHER JURISDICTION (COMMISSION (I.R.S. EMPLOYER
OF INCORPORATION) FILE NUMBER) IDENTIFICATION
NUMBER)
727 FIFTH AVENUE, NEW YORK, NEW YORK 10022
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)
Registrant's telephone number, including area code: (212) 755-8000
<PAGE> 2
ITEM 7. EXHIBITS
On April 9, 1998, Registrant filed via EDGAR its Report on Form 10-K for
the period ended January 31, 1998, complete with Exhibit 27, Financial Data
Schedule for the period, reported in compliance with Statement of Financial
Accounting Standards No. 128, "Earnings Per Share."
Pursuant to the requirements of Item 601(c)(2)(iii) of Regulation S-K,
Registrant submits herewith its Financial Data Schedules for the last three
fiscal years and interim periods of the last two fiscal years, restated in
compliance with SFAS No. 128.
EXHIBIT DESCRIPTION
27 Financial Data Schedule, restated in compliance with Statement of
Accounting Standards No. 128, "Earnings Per Share" for the fiscal
year ended January 31, 1998 (revised).
27.1 Financial Data Schedules, restated in compliance with Statement of
Accounting Standards No. 128, "Earnings Per Share" for the
interim periods of the fiscal year ended January 31, 1998.
27.2 Financial Data Schedules, restated in compliance with Statement of
Accounting Standards No. 128, "Earnings Per Share" for the fiscal
year and interim periods of the fiscal year ended January 31, 1997.
27.3 Financial Data Schedule, restated in compliance with Statement of
Accounting Standards No. 128, "Earnings Per Share" for the fiscal
year ended January 31, 1996.
TIFFANY & CO.
BY: /s/ James N. Fernandez
-------------------------------
James N. Fernandez
Executive Vice President
Date: April 17, 1998 and Chief Financial Officer
<PAGE> 3
EXHIBIT INDEX
The following exhibits were included with Registrant's Report on Form 10-K
filed on April 9, 1998:
EXHIBIT DESCRIPTION
3.2 By-Laws of Registrant (as last amended March 19, 1998)
10.125 Asset Purchase Agreement dated as of February 2, 1998 between Tiffany
and Mitsukoshi (U.S.A.), Inc.
13.1 Annual Report to Stockholders for Fiscal Year Ended January 31, 1998
(pages 14 through 38 of such Annual Report have been filed in
electronic format).
21.1 Subsidiaries of Registrant.
23.1 Consent of Coopers & Lybrand L.L.P., independent accountants.
27 Financial Data Schedule, restated in compliance with Statement of
Accounting Standards No. 128, "Earnings Per Share" for the fiscal
year ended January 31, 1998.
The following exhibits are submitted herewith:
EXHIBIT DESCRIPTION
27 Financial Data Schedule, restated in compliance with Statement of
Accounting Standards No. 128, "Earnings Per Share" for the fiscal
year ended January 31, 1998 (revised).
27.1 Financial Data Schedules, restated in compliance with Statement of
Accounting Standards No. 128, "Earnings Per Share" for the
interim periods of the fiscal year ended January 31, 1998.
27.2 Financial Data Schedules, restated in compliance with Statement of
Accounting Standards No. 128, "Earnings Per Share" for the fiscal
year and interim periods of the fiscal year ended January 31, 1997.
27.3 Financial Data Schedule, restated in compliance with Statement of
Accounting Standards No. 128, "Earnings Per Share" for the fiscal
year ended January 31, 1996.
<TABLE> <S> <C>
<ARTICLE> 5
<RESTATED>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> JAN-31-1998
<PERIOD-START> FEB-01-1997
<PERIOD-END> JAN-31-1998
<CASH> 107,252,000
<SECURITIES> 0
<RECEIVABLES> 106,480,000
<ALLOWANCES> 6,988,000
<INVENTORY> 386,431,000
<CURRENT-ASSETS> 631,087,000
<PP&E> 251,819,000
<DEPRECIATION> 95,452,000
<TOTAL-ASSETS> 827,067,000
<CURRENT-LIABILITIES> 250,003,000
<BONDS> 0
0
0
<COMMON> 349,000
<OTHER-SE> 443,375,000
<TOTAL-LIABILITY-AND-EQUITY> 827,067,000
<SALES> 1,017,616,000
<TOTAL-REVENUES> 1,017,616,000
<CGS> 453,408,000
<TOTAL-COSTS> 884,194,000
<OTHER-EXPENSES> 5,664,000
<LOSS-PROVISION> 1,255,000
<INTEREST-EXPENSE> 8,037,000
<INCOME-PRETAX> 127,758,000
<INCOME-TAX> 54,936,000
<INCOME-CONTINUING> 72,822,000
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 72,822,000
<EPS-PRIMARY> 2.08<F1>
<EPS-DILUTED> 2.02<F1>
<FN>
<F1>The amount reported for EPS primary and fully diluted is in compliance with
Statement of Financial Accounting Standards No. 128, "Earnings Per Share," and
represents the Basic and Diluted calculation as required by this standard.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 5
<RESTATED>
<S> <C> <C> <C>
<PERIOD-TYPE> 9-MOS 6-MOS 3-MOS
<FISCAL-YEAR-END> JAN-31-1998 JAN-31-1998 JAN-31-1998
<PERIOD-START> AUG-01-1997 MAY-01-1997 FEB-01-1997
<PERIOD-END> OCT-31-1997 JUL-31-1997 APR-30-1997
<CASH> 24,483,000 61,538,000 87,073,000
<SECURITIES> 15,000,000 15,000,000 15,000,000
<RECEIVABLES> 89,041,000 76,186,000 68,219,000
<ALLOWANCES> 6,736,000 6,774,000 6,922,000
<INVENTORY> 415,371,000 372,787,000 343,438,000
<CURRENT-ASSETS> 587,132,000 569,279,000 547,358,000
<PP&E> 238,423,000 220,411,000 209,480,000
<DEPRECIATION> 91,481,000 85,415,000 80,362,000
<TOTAL-ASSETS> 773,964,000 744,723,000 716,536,000
<CURRENT-LIABILITIES> 222,173,000 202,966,000 192,546,000
<BONDS> 0 0 0
0 0 0
0 0 0
<COMMON> 351,000 350,000 348,000
<OTHER-SE> 416,655,000 405,209,000 390,321,000
<TOTAL-LIABILITY-AND-EQUITY> 773,964,000 744,723,000 716,536,000
<SALES> 233,074,000 217,149,000 199,699,000
<TOTAL-REVENUES> 233,074,000 217,149,000 199,699,000
<CGS> 106,195,000 100,522,000 93,445,000
<TOTAL-COSTS> 211,648,000 197,904,000 182,996,000
<OTHER-EXPENSES> 1,315,000 1,035,000 1,124,000
<LOSS-PROVISION> 420,000 364,000 339,000
<INTEREST-EXPENSE> 2,077,000 1,946,000 1,896,000
<INCOME-PRETAX> 20,111,000 18,210,000 15,579,000
<INCOME-TAX> 8,648,000 7,830,000 6,699,000
<INCOME-CONTINUING> 11,463,000 10,380,000 8,880,000
<DISCONTINUED> 0 0 0
<EXTRAORDINARY> 0 0 0
<CHANGES> 0 0 0
<NET-INCOME> 11,463,000 10,380,000 8,880,000
<EPS-PRIMARY> .33<F1> .30<F1> .26<F1>
<EPS-DILUTED> .32<F1> .29<F1> .25<F1>
<FN>
<F1>The amount reported for EPS primary and fully diluted is in compliance with
Statement of Financial Accounting Standards No. 128, "Earnings Per Share," and
represents the Basic and Diluted calculation as required by this standard.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 5
<RESTATED>
<S> <C> <C> <C> <C>
<PERIOD-TYPE> YEAR 9-MOS 6-MOS 3-MOS
<FISCAL-YEAR-END> JAN-31-1997 JAN-31-1997 JAN-31-1997 JAN-31-1997
<PERIOD-START> FEB-01-1996 AUG-01-1996 MAY-01-1996 FEB-01-1996
<PERIOD-END> JAN-31-1997 OCT-31-1996 JUL-31-1996 APR-30-1996
<CASH> 117,161,000 19,794,000 20,125,000 40,168,000
<SECURITIES> 0 0 0 0
<RECEIVABLES> 87,636,000 86,322,000 71,536,000 73,914,000
<ALLOWANCES> 6,864,000 5,919,000 5,697,000 5,753,000
<INVENTORY> 335,389,000 389,910,000 365,676,000 349,017,000
<CURRENT-ASSETS> 568,983,000 528,050,000 490,859,000 489,851,000
<PP&E> 204,727,000 206,914,000 195,619,000 184,830,000
<DEPRECIATION> 75,381,000 75,682,000 70,877,000 65,897,000
<TOTAL-ASSETS> 739,418,000 702,388,000 658,583,000 653,417,000
<CURRENT-LIABILITIES> 226,472,000 218,257,000 178,349,000 183,464,000
<BONDS> 0 0 0 0
0 0 0 0
0 0 0 0
<COMMON> 345,000 345,000 344,000 324,000
<OTHER-SE> 377,919,000 347,525,000 339,838,000 277,750,000
<TOTAL-LIABILITY-AND-EQUITY> 739,418,000 702,388,000 658,583,000 653,417,000
<SALES> 922,108,000 210,985,000 202,763,000 180,741,000
<TOTAL-REVENUES> 922,108,000 210,985,000 202,763,000 180,741,000
<CGS> 422,414,000 96,701,000 95,881,000 87,375,000
<TOTAL-COSTS> 812,695,000 192,342,000 185,885,000 168,463,000
<OTHER-EXPENSES> 6,527,000 2,186,000 2,360,000 3,340,000
<LOSS-PROVISION> 2,138,000 458,000 443,000 348,000
<INTEREST-EXPENSE> 9,480,000 2,108,000 2,518,000 2,754,000
<INCOME-PRETAX> 102,886,000 16,457,000 14,518,000 8,938,000
<INCOME-TAX> 44,447,000 7,110,000 6,272,000 3,861,000
<INCOME-CONTINUING> 58,439,000 9,347,000 8,246,000 5,077,000
<DISCONTINUED> 0 0 0 0
<EXTRAORDINARY> 0 0 0 0
<CHANGES> 0 0 0 0
<NET-INCOME> 58,439,000 9,347,000 8,246,000 5,077,000
<EPS-PRIMARY> 1.74<F1> .27<F1> .25<F1> .16<F1>
<EPS-DILUTED> 1.66<F1> .26<F1> .24<F1> .16<F1>
<FN>
<F1>The amount reported for EPS primary and fully diluted is in compliance with
Statement of Financial Accounting Standards No. 128, " Earnings Per Share," and
represents the Basic and Diluted calculation as required by this standard.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 5
<RESTATED>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> JAN-31-1996
<PERIOD-START> FEB-01-1995
<PERIOD-END> JAN-31-1996
<CASH> 81,966,000
<SECURITIES> 0
<RECEIVABLES> 85,782,000
<ALLOWANCES> 5,698,000
<INVENTORY> 311,252,000
<CURRENT-ASSETS> 501,404,000
<PP&E> 176,727,000
<DEPRECIATION> 61,513,000
<TOTAL-ASSETS> 654,257,000
<CURRENT-LIABILITIES> 217,302,000
<BONDS> 0
0
0
<COMMON> 320,000
<OTHER-SE> 264,058,000
<TOTAL-LIABILITY-AND-EQUITY> 654,257,000
<SALES> 803,292,000
<TOTAL-REVENUES> 803,292,000
<CGS> 375,922,000
<TOTAL-COSTS> 723,279,000
<OTHER-EXPENSES> 10,978,000
<LOSS-PROVISION> 1,745,000
<INTEREST-EXPENSE> 12,338,000
<INCOME-PRETAX> 69,035,000
<INCOME-TAX> 29,820,000
<INCOME-CONTINUING> 39,215,000
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 39,215,000
<EPS-PRIMARY> 1.24<F1>
<EPS-DILUTED> 1.21<F1>
<FN>
<F1>The amount reported for EPS primary and fully diluted is in compliance with
Statement of Financial Accounting Standards No. 128, "Earnings Per Share, " and
represents the Basic and Diluted calculation as required by this standard.
</FN>
</TABLE>
