TSI Holdings' Profit Jumps 66% as Newly Bought Brands Drag Down Margins
TSI Holdings' quarterly sales rose 30% and operating profit rose 66% on the back of two acquisitions, but Freak's Store operator Daytona International and umbrella maker Waterfront pulled gross margin down 1.2 points, a trade-off the apparel group is covering with sharper cost cuts rather than pricing power.