Consumer Goods Sector Report

On Monday Tiffany posted 4th quarter (ended Jan 31) and year end results. Net income was relatively flat, at $140.5 million, or $1.02 per share, for the quarter and $253.9 million, or $1.80 per share, for the year. For the quarter revenues were $986.4million, 15% higher than the quarter a year ago and same store sales grew 8%. For the year revenue grew 11% to $2.65 billion. Sales were mostly up but the flat profits were due to lower margins from higher metals costs . Tiffany shares shares rose 13 cents to $45.63.

Toyota was at 132.70 at market close Monday, just below where we bought it. Toyota is curretly displaying their hybrids at the Nashville International Auto Show. Also Monday, the big US three auto makers (Ford, GM, and DaimlerChrysler) met with President Bush about fuel economy standards. President Bush plans to cut gasoline use by 20% in the next decade--good news for the Puris.

There wasn't any exciting news this week in regards to Cherokee, closing down at $44.98. P&G was in the news today as a possible buyer of a luxury skin car firm, Clarins SA. They are in competition for the brand with L'Oreal Paris, LVMH, and Estee Lauder. PG closed at $63.90 Monday.