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September 05, 2015 11:14 AM ET

Textiles, Apparel and Luxury Goods

Company Overview of Tumi Holdings, Inc.

Company Overview

Tumi Holdings, Inc. designs, produces, and markets a range of travel and business products, and accessories. It operates in four segments: Direct-to-Consumer North America; Direct-to-Consumer International; Indirect-to-Consumer North America; and Indirect-to-Consumer International. The company provides wheeled travel products and soft styles without wheels comprising satchels, garment bags, boarding totes, and cross-body bags; and business cases, including wheeled business cases, backpacks, messenger bags, day bags, and totes. It also offers accessories comprising agendas and planners, passport cases, mobile covers, umbrellas, and travel accessories, such as electric current adapters, key fo...

1001 Durham Avenue

South Plainfield, NJ 07080

United States

Founded in 1975

1,484 Employees

Phone:

908-756-4400

Key Executives for Tumi Holdings, Inc.

Chief Executive Officer, President and Director
Age: 57
Total Annual Compensation: $885.0K
Chief Financial Officer, Executive Vice President and Director
Age: 66
Total Annual Compensation: $466.9K
Senior Vice President of Product Development, Manufacturing and Sourcing
Age: 59
Total Annual Compensation: $441.5K
Executive Vice President, General Counsel and Secretary
Age: 47
Total Annual Compensation: $396.0K
Compensation as of Fiscal Year 2014.

Tumi Holdings, Inc. Key Developments

Tumi Holdings, Inc. Announces Resignation of Adam Levy as President of Retail, Effective September 3, 2015

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

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

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.

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