tumi holdings inc (TUMI) Key Developments
TUMI Holdings, Inc. Announces Executive Changes
Jun 22 15
TUMI Holdings, Inc. announced the appointment of New York designer Michael Petry as its new Creative Director as of July 1, 2015. Prior to joining TUMI, Mr. Petry held the position of Senior Vice President and Creative Director at The Frye Company since 2007. In his previous role at The Frye Company, Mr. Petry was able to organically grow the brand, making Frye a leader in the global marketplace, as the brand reached all-time highs in footwear, handbags and accessories during his tenure. Mr. Petry will be responsible for TUMI’s strategic creative direction, ensuring alignment on all product related initiatives, design processes and business objectives that advance the overall brand strategy. Additionally, he will provide global leadership on visual merchandising and store design, while upholding the high integrity of the brands’ identity to remain consistent with the expectations of TUMI’s customers worldwide. Mr. Petry will report to Chief Executive Officer and President, Jerome Griffith. Mr. Petry succeeds TUMI’s current consulting Creative Director, George Esquivel.
Tumi Holdings, Inc. Presents at William Blair’s 35th Annual Growth Stock Conference, Jun-09-2015 08:50 AM
Jun 2 15
Tumi Holdings, Inc. Presents at William Blair’s 35th Annual Growth Stock Conference, Jun-09-2015 08:50 AM. Venue: Four Seasons Hotel, Chicago, Illinois, United States. Speakers: Michael J. Mardy, Chief Financial Officer, Executive Vice President and Director.
Tumi Holdings, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 29, 2015; Revises Earnings Guidance for the Year 2015
May 6 15
Tumi Holdings, Inc. announced unaudited consolidated earnings results for the first quarter ended March 29, 2015. For the quarter, the company's net sales were $110,461,000 against $108,602,000 a year ago. Operating income was $9,563,000 against $13,381,000 a year ago. Income before income taxes was $9,806,000 against $13,024,000 a year ago. Net income was $6,374,000 or $0.09 basic and diluted per share against $8,153,000 or $0.12 basic and diluted per share a year ago. Operating income before costs associated with the cost reduction program was $12.1 million against $13.4 million a year ago. Net income before costs associated with the cost reduction program was $8.0 million or 0.12 diluted per share against $8.2 million or 0.12 diluted per share a year ago.
The company is revising its guidance for 2015. The company now expects net sales to increase between 6% and 9%, and diluted earnings per share for fiscal 2015 to be between $0.90 and $0.95. This assumes a foreign currency impact on net sales of approximately $13 million, and on diluted earnings per share of approximately $0.05, assuming prevailing exchange rates. The Company continues to expect this cost reduction program to result in annualized savings in operating expenses of approximately $3.5 million. These estimates assume total comparable store sales growth in the low to mid-single digits, diluted weighted-average common shares outstanding of approximately 67.9 million, and an effective tax rate of 35.0%. Capital expenditures for fiscal 2015 are expected to be in the range of $35.0 million to $40.0 million.
Tumi Holdings, Inc. to Open New Stores in 2015
May 6 15
Tumi Holdings, Inc. continues to expect to open 18 to 22 new stores in 2015.
Tumi Holdings, Inc. to Report Q1, 2015 Results on May 06, 2015
Apr 22 15
Tumi Holdings, Inc. announced that they will report Q1, 2015 results at 4:30 PM, US Eastern Standard Time on May 06, 2015