tumi holdings inc (TUMI) Key Developments
TUMI Holdings, Inc. Announces Launch of Global Locator
Sep 8 15
TUMI Holdings, Inc. announced its collaboration with AT&T1 and LugTrack to launch the “TUMI Global Locator,” a new wireless tracking device designed to provide travelers with real-time data regarding the location of their luggage or other travel bags, helping to alleviate the headaches of lost or misplaced items. With a sleek design and the ability to track any bag, briefcase, backpack, luggage, or accessory, the TUMI Global Locator is a wireless and compact device which uses GPS, GSM, WIFI and Bluetooth technology to provide specific location positioning information via a mobile application to users around the world. The device is FAA compliant, with the capability to shut itself off in-flight and turn itself back on upon landing, maintaining observance with major airline regulator policies. The TUMI Global Locator device and mobile application are planned for commercial release in the fourth quarter of 2015 and will be sold at TUMI collection stores and on TUMI’s website.
Tumi Holdings, Inc. Announces Resignation of Adam Levy as President of Retail, Effective September 3, 2015
Aug 26 15
On August 20, 2015, Adam Levy notified Tumi Holdings, Inc. of his resignation as President, Retail of the company, and any and all positions held by him at the company's subsidiaries, effective September 3, 2015.
Tumi Holdings to Open 20 to 22 New Stores for 2015
Aug 5 15
Tumi Holdings, Inc. is expecting to open between 20 to 22 new stores for 2015.
Tumi Holdings, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 28, 2015; Provides Earnings Guidance for the Year 2015
Aug 5 15
Tumi Holdings, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 28, 2015. For the quarter, the company's net sales were $138,520,000 against $124,582,000 a year ago. Operating income was $25,280,000 against $19,856,000 a year ago. Income before income taxes was $25,721,000 against $19,702,000 a year ago. Net income was $16,719,000 against $12,219,000 a year ago. Basic and diluted earnings per common share were $0.25 against $0.18 a year ago.
For the quarter, the company's net sales were $248,981,000 against $233,184,000 a year ago. Operating income was $34,843,000 against $33,237,000 a year ago. Income before income taxes was $35,527,000 against $32,726,000 a year ago. Net income was $23,093,000 against $20,372,000 a year ago. Basic and diluted earnings per common share were $0.34 against $0.30 a year ago.
For fiscal 2015, the company continues to expect net sales to increase between 6% and 9%, and diluted earnings per share 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. In the event that foreign
currency exchange rates fluctuate from prevailing levels, these estimates of currency impacts could be favorably or unfavorably impacted. The diluted earnings per share guidance also includes expenses incurred and realized in the first quarter of 2015 due to the cost reduction program of approximately $0.02. The Company continues to expect the 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 in fiscal 2015 are expected to be in the range of $35.0 million to $40.0 million.
Tumi Holdings, Inc. to Report Q2, 2015 Results on Aug 05, 2015
Jul 22 15
Tumi Holdings, Inc. announced that they will report Q2, 2015 results at 4:30 PM, US Eastern Standard Time on Aug 05, 2015