This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Tumi Holdings Announces Financial Results For The Fourth Quarter And Full Year 2012

Tumi Holdings, Inc. (NYSE: TUMI), the leading global brand of premium travel, business and lifestyle products and accessories, today announced its financial results for the fourth quarter and full year ended December 31, 2012.

For the fourth quarter of 2012:

  • Net sales increased 18.6% to $126.8 million from $107.0 million in the fourth quarter ended December 31, 2011. There were two extra sales days in the fourth quarter of 2012 compared to 2011.
  • For total Direct-to-Consumer channels, comparable store sales, including company-owned websites, increased 14.6%, following an increase of 14.8% in the fourth quarter of 2011.
  • Direct-to-Consumer North America comparable store sales (including e-commerce sales) increased 14.2%, following an increase of 15.4% in the fourth quarter of 2011. Excluding e-commerce sales, Direct-to-Consumer North America comparable store sales increased 9.4%, following an increase of 14.6% in the fourth quarter of 2011.
  • Direct-to-Consumer International comparable store sales (including e-commerce sales) increased 24.6% in local currency, following an increase of 8.3% in the fourth quarter of 2011. Excluding e-commerce sales, Direct-to-Consumer International comparable store sales increased 23.9% in local currency, following an increase of 2.9% in the fourth quarter of 2011. In U.S. dollars, Direct-to-Consumer International comparable store sales (including e-commerce sales) increased 19.2%, following an increase of 8.3% in the fourth quarter of 2011. Excluding e-commerce sales, Direct-to-Consumer International comparable stores sales increased 18.6% in U.S. dollars, following an increase of 2.9% in 2011.
  • Gross profit increased 15.6% to $73.2 million from $63.3 million in the fourth quarter of 2011. Gross margin was 57.7% compared to 59.2% in the fourth quarter of 2011.
  • Operating income increased 14.9% to $29.1 million from $25.3 million in the fourth quarter of 2011. Operating income margin was 23.0% compared to 23.7% in the fourth quarter of 2011. In the fourth quarter of 2012, the company incurred approximately $0.6 million in operating expenses in conjunction with the secondary common stock offering completed in November 2012. Excluding this one-time expense, operating income increased 17.4% to $29.7 million, and operating income margin was 23.5% in the fourth quarter of 2012.
  • Net income was $16.9 million, or $0.25 per diluted share based on 67.9 million diluted weighted average common shares outstanding, compared to $12.8 million, or $0.24 per diluted share, based on 52.5 million diluted weighted average common shares outstanding in the fourth quarter of 2011. Excluding the aforementioned one-time expense incurred in conjunction with the secondary common stock offering completed in November 2012 ($0.4 million after-tax), net income in the fourth quarter of 2012 was $17.3 million, or $0.25 per diluted share.
  • During the fourth quarter of 2012, Tumi opened three new stores.
  • At December 31, 2012, Tumi operated 114 company-owned stores.

Jerome Griffith, Chief Executive Officer, President and Director, commented, “We are very pleased with the strong finish to 2012, and the great momentum that we have built going into 2013. Importantly, we continue to leverage our market position as an iconic global premium lifestyle brand, broadening our product offering beyond travel-related merchandise and expanding into international markets where we are achieving exceptional growth despite difficult market conditions. During the quarter, we saw positive consumer reaction to our new product introductions, continued brand extensions and three new store openings in North America. We also saw improved retail performance and continued strength in our wholesale business in the EMEA zone, as well as continued growth in the Asia-Pacific region. Based on our recent successes, we continue to believe that significant long-term growth opportunities lie ahead for Tumi.”

1 of 5

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,071.69 -41.85 -0.24%
S&P 500 1,985.04 +1.51 0.08%
NASDAQ 4,466.3640 +10.3480 0.23%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs