Tumi Holdings Inc (NYSE:TUMI) declared on Wednesday that it has a higher profit in the Q4, owing mainly to an 18.6% growth in sales. Nonetheless, the luxury travel product maker’s quarterly earnings overlooked Wall Street estimations, as did sales.
Tumi, which made its market first appearance previous April on the New York Stock Exchange, makes wheeled travel products plus satchels, garment bags, and business cases.
The South Plainfield, New Jersey-based firm announced quarterly net income of $17M or $0.25 a share, in contrast to $13M or $0.24 a share previous year.
On average, six analysts polled by Thomson Reuters anticipated earnings of $0.26 a share for the quarter. Analysts’ anticipates typically exclude particular items.
Sales for the quarter surged to about $127M from $107M a year before. Analysts on consensus anticipate sales of $129.37M for the quarter.
Moving readers toward the broader market, let’s consider percentage change in stocks prices of other stocks in the similar sector who contribute major role in the market that includes Vera Bradley, Inc. (NASDAQ:VRA) rose +3.63%, NIKE, Inc. (NYSE:NKE) edged up +1.86%, Deckers Outdoor Corp (NASDAQ:DECK) which also increased +3.18% and Steven Madden, Ltd. (NASDAQ:SHOO) closed up +2.49%.
Tumi Holdings Inc (NYSE:TUMI) stock’s trade at beginning with a price of $23.42 and throughout the trading session climbed at a high of $24.04 other than when day-trade ended the stock finally advanced +2.19% to $23.84.
The stock is going forward its 52 week low with 65.10% and lagging behind from its 52 week high price with -16.93%. TUMI last month stock price volatility remained 3.53%.
TUMI stock institutional ownership remained 97.61% while insider ownership included 3.21%. In its share capital TUMI has 67.87 million outstanding shares among them 64.56 million shares have been floated in market exchange.
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