Tumi Holdings, Inc. (TUMI, Financial) is a retailer of luggage and accessories. The stock was a detractor during the third quarter when the company saw a slowdown in U.S. sales. With North America representing 69% of total sales, this slowdown caused the company to lower its earnings estimates. We do not believe this slowdown is company-specific, as U.S. mall traffic was slow the last two quarters. (Laird Bieger)
From Ron Baron’s Baron Funds third quarter 2013 report.
From Ron Baron’s Baron Funds third quarter 2013 report.
