Sequential Improvement in Sales
Net sales decline improved to 1.3% in Q3 from 5.8% in Q2, with positive sales growth in August, September, and October across all regions and brands.
Strong Direct-to-Consumer Performance
DTC sales increased by 3.5% period-over-period, with DTC e-commerce up over 10% and owned company stores up 1.1%.
Gross Margin Expansion
Gross margin increased to 59.6%, up 30 basis points year-over-year and 60 basis points from the prior quarter, despite tariff impacts.
TUMI Brand Resurgence
TUMI brand sales shifted from a decline to positive 5% growth in Q3, with particularly strong performance in Asia and Europe.
Improvement in Asia and Europe Markets
Asia sales improved significantly, with China seeing 10% growth for TUMI. Europe sales returned to positive growth, driven by France and the U.K.