Tiffany & Co. (NYSE:TIF) holiday sales were up 7%. However it cuts its fiscal year 2012 earnings per share guidance to $3.60-3.65. This is in juxtaposition with a prior guidance of $3.70-3.80 and consensus of $3.76.

Lululemon (NASDAQ:LULU) changes it outlook to a merrier one in the fourth quarter, moving its guidance for earnings per share to $0.47-$0.49 from $0.40-$0.42 and bumping up its sales mark to $358 million-$363 million from $327 million-$332 million. What was the impetus? The retailer says a strong consumer reaction to its holiday assortment lifted same-store sales to a low-to-mid twenties percentage gain, higher than its initial estimate calling for growth in the low to mid-teens.

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Yum Brands (NYSE:YUM) will add 100 stores on the African continent and expand its Kentucky Fried Chicken business to seven more countries within Africa in 2012. Seeking to tap into a rising middle class and strong economic growth, Pizza Hut, another Yum brand, expects to enter South Africa this year or next.

Hhgreg (NYSE:HGG) slid over 13% after it said that the third fiscal quarter earnings per share fell to a preliminary $0.60 from $0.66, due to lower-than-expected margins in its video category and higher advertisement spending. Sales are up 27% to $829.5 million. Analysts expect $1.12 for earnings per share guidance for fiscal year 2012, but Hhgregg cut its guidance to $1.05-$1.15.

Coors Light (NYSE:TAP) surpasses Budweiser (NYSE:BUD) to become the number two beer in the in the United States. This caps years of declines by Budweiser. BUD is the only full-calorie beer in the top five United States beers. Bud Light is the top-selling beer by a wide margin. Coors Light has been posting slow but steady growth; with sales up 0.8% while Bud sales fell 4.6%.

Netflix (NASDAQ:NFLX) and Warner Brothers (NYSE:TWX) have reached an agreement. The current 28-day sales-only window to 56 days for theatrical new releases and made-for-video titles on DVD and Blu-ray has been extended. Warner says it is a juggling act with its home entertainment revenue streams creating different times at which a product is available at different prices.

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To contact the reporter on this story: Tanya Harding at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com

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