Tumi Holdings (TUMI) — a company that makes fancy luggage — is heading south today … fast.

The cause: Tumi reported second-quarter earnings after the bell yesterday, and its results fell short of expectations. Here’s a quick sample of the disappointments:

• Revenue grew 13% year-over-year, but the resulting $108 million in sales was still $6 million short of estimates.
• Same-store sales improved less than 5% vs. 8% growth the year prior.
• Net income, excluding an early termination charge, was flat year-over-year at 18 cents per share. That was also a penny short of analyst EPS expectations.
• The company lowered its full-year sales and earnings outlook as well. Revenue growth was originally slated to be between 18% and 20% for 2013, but it’s now dropped to a range of 16% to 18%.
• Earnings growth for the full-year was slimmed from 82 cents to 86 cents per diluted share, while it’s now 76 cents to 82 cents per share.

Investors were quick to flee on the news. TUMI stock is currently sitting almost 11% in the red after opening even lower.

Of course, it’s hard to blame the sellers. Before today’s selloff, Tumi stock had booked a 23% year-to-date climb and was trading for 23 times next year’s expected earning, all while five-year growth is only slated for 17% per year. The slightest sign of a slowdown in growth — of which TUMI gave plenty yesterday — was bound to send investors to the exit.

Then again, volatility is par for the course when it comes to this luxury luggage-maker. The stock boasts a beta of 2.93, for example, meaning it’s nearly three times as volatile as the broader market. And for the visual learners out there, just take a look at the stock’s movement over the past 52 weeks.

That’s good news for anyone wondering if TUMI’s selloff is a red flag for the broader luxury sector. Instead, it seems that it’s just a matter of the stock having a high bar for growth, and a highly volatile history. High-end names like Michael Kors (KORS) and Fossil (FOSL) seem to suggest discretionary spending, overall, is doing just fine.

As of this writing, Alyssa Oursler did not own a position in any of the aforementioned securities.