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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
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Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): September 21, 2000
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
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Item 5. Other Events.
On September 21, 2000, Registrant issued the following press release
announcing the increase and extension of its stock repurchase program.
New York, September 21, 2000 - The Board of Directors of Tiffany & Co. (NYSE -
TIF) has extended the Company's stock repurchase program until November 2003. As
extended, the program authorizes future repurchases of up to $100 million of the
Company's outstanding Common Stock.
The program was initially authorized for up to $100 million in November 1997 and
was scheduled to expire in November 2000. To date, the Company has purchased
4,484,400 shares at a total cost of $49.9 million (the share number has been
adjusted for the July 2000 and July 1999 two-for-one splits of the Company's
Common Stock). Purchases are made through open market transactions, and the
timing and actual number of shares purchased will depend on a variety of factors
such as price and other market conditions. There were 145.2 million shares
outstanding at July 31, 2000.
William R. Chaney, chairman, said, "We are pleased that Tiffany's strong
performance and financial position gives us the ability to increase and extend
our repurchase program. Based on our confidence in Tiffany's future growth
prospects, the Board believes that repurchasing shares from time to time can
represent an excellent investment for the Company and further enhance long-term
value for our shareholders."
Tiffany & Co. is the internationally renowned jeweler and specialty retailer.
Sales are made primarily through TIFFANY & CO. stores and boutiques in the
Americas, Asia-Pacific, Europe and the Middle East. Direct Marketing includes
Tiffany's corporate division, catalog and Internet sales. Additional information
can be found on Tiffany's Web site, www.tiffany.com, and on its shareholder
information line (800) TIF-0110.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
TIFFANY & CO.
BY: /s/ Patrick B. Dorsey
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Patrick B. Dorsey
Senior Vice President,
Date: September 22, 2000 General Counsel and Secretary
