Tiffany’s Good News Eases the Mean Reds In Retail ETFs

Jewelry purveyor Tiffany & Co. (TIF) put up strong results on Monday, delivering a dose of positivity to retail exchange traded funds (ETFs) and the overall sector. It’s was sitting at 7-week highs this morning.

While Tiffany isn’t a major holding of any of the retail ETFs, the fact that the company is forecasting earnings to beat analysts’ predictions is good news for the sector – diamonds are hardly a consumer staple, despite what the woman in your life tells you.

Tiffany also reported that its fourth-quarter fiscal earnings beat the mean estimate by analysts, says Tomi Kilgore for Thomson Financial.

Retail ETFs that were in green territory intraday:

• Claymore/Robb Report Global Luxury (ROB)
• Retail HOLDRs (RTH)
• SPDR S&P Retail (XRT)
• Consumer Discretionary SPDR (XLY)
• iShares Dow Jones US Consumer Goods (IYK)