Last $23.71 USD
Change Today +0.17 / 0.72%
Volume 165.8K
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As of 8:04 PM 12/26/14 All times are local (Market data is delayed by at least 15 minutes).

tumi holdings inc (TUMI) Key Developments

Tumi Holdings, Inc. Announces Unaudited Consolidated Financial Results for the Third Quarter and Nine Months Ended September 28, 2014; Provides Earnings Guidance for the Fiscal Year 2014

Tumi Holdings, Inc. announced unaudited consolidated financial results for the third quarter and nine months ended September 28, 2014. For the quarter, net sales were $130,195,000 against $108,910,000 in the same period a year ago. Operating income was $23,267,000 against $18,526,000 in the same period a year ago. Net income was $13,917,000 or $0.21 per basic and diluted share against $12,055,000 or $0.18 per basic and diluted share in the same period a year ago. Income before income tax was $23,183,000 against $19,257,000 in the same period a year ago. Total comparable store sales for all Direct-to-Consumer channels, including company-owned websites, increased 13.0%, compared to an increase of 8.5% in the third quarter of 2013. For the nine months, net sales were $363,379,000 against $320,024,000 in the same period a year ago. Operating income was $56,504,000 against $53,998,000 in the same period a year ago. Income before income tax was $55,909,000 against $53,968,000 in the same period a year ago. Net income was $34,289,000 or $0.51 per basic or diluted share against $33,784,000 or $0.50 per basic or diluted share in the same period a year ago. The company maintained earnings guidance for the fiscal year 2014. For fiscal 2014, the company continues to expect net sales to increase between 12% and 15% for the full year, but expects the sales increase to be closer to the lower end of this range due to reduced traffic in stores during the first few weeks of October. As previously discussed, 2014 will be a year of higher than normal investment and expenses driven primarily by the transitioning of the company's e-commerce business in-house. Additionally, the company began investing in infrastructure and personnel in Asia in preparation for the potential transition to a more direct sales model in this region. The company incurred approximately $0.3 million of incremental operating expenses related to the Asia investment in the third quarter of 2014, and expects to incur an additional $0.5 million in the fourth quarter of 2014. Taking into account the effect of these incremental costs, as well as the current view of the retail environment, the company now anticipates diluted EPS for 2014 to be between $0.84 and $0.86. The company's revised diluted EPS range assumes diluted weighted average common shares outstanding of approximately 67.9 million and a weighted average GAAP tax rate of 38%. Capital expenditures for fiscal 2014 are expected to be in the range of $40.0 million to $45.0 million.

Tumi Holdings, Inc. Expects to Open 25 New Stores for the Year, 2014

Tumi Holdings, Inc. expected to open approximately 25 new stores for the year, 2014.

Tumi Holdings, Inc. to Report Q3, 2014 Results on Nov 06, 2014

Tumi Holdings, Inc. announced that they will report Q3, 2014 results at 4:30 PM, US Eastern Standard Time on Nov 06, 2014

Tumi Holdings, Inc., Q3 2014 Earnings Call, Nov 06, 2014

Tumi Holdings, Inc., Q3 2014 Earnings Call, Nov 06, 2014

Tumi Holdings, Inc. Announces the Resignation of Alan M. Krantzler as Chief Merchandising Officer, Effective October 17, 2014

On October 6, 2014, Alan M. Krantzler informed Tumi Holdings, Inc. that he was resigning as Chief Merchandising Officer of the company, and any and all positions held by him at the company's subsidiaries, effective October 17, 2014.

 

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Industry Analysis

TUMI

Industry Average

Valuation TUMI Industry Range
Price/Earnings 29.2x
Price/Sales 3.2x
Price/Book 4.0x
Price/Cash Flow 29.2x
TEV/Sales 3.1x
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