Tumi Holdings (TUMI) Tops Q4 EPS by 5c

Tumi Holdings (NYSE: TUMI) reported Q4 EPS of $0.37, $0.05 better than the analyst estimate of $0.32. Revenue for the quarter came in at $167.7 million versus the consensus estimate of $164.37 million.

GUIDANCE:

Tumi Holdings sees FY2016 EPS of $0.93-$0.97, versus the consensus of $1.00.

Jerome Griffith, Chief Executive Officer and President, commented, “In fiscal 2015, we delivered revenue growth on a constant currency basis of 6.7%, adjusted EPS growth on a constant currency basis of 17.2%, drove significant gross margin expansion while protecting our brand in a promotional environment, and continued to push forward on our multiple growth initiatives. In addition, we announced plans to buy the remaining 50% stake of our Japanese JV, which we closed in early 2016. Looking ahead, we will continue to make strategic investments to support our long-term growth initiatives and remain deeply committed to creating innovative products with exceptional quality and functionality for the global citizen. We are also committed to growing our direct-to-consumer distribution worldwide through store openings, particularly in the international markets, as well as through the expansion of our global e-commerce platform. In 2015, we opened 27 new stores, and expanded our e-commerce platform to 18 countries globally. Finally, we will focus our marketing programs and brand building initiatives on creating a deeper connection with our core customers and on extending our global reach. Overall, we are excited about the growth opportunities ahead of us.”

For earnings history and earnings-related data on Tumi Holdings (TUMI) click here.

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