Brief: Samsonite International Says FY Net Sales $2,020.8 Million Versus $1,536.7 Million

Samsonite SA

16/03/2022 10:35

March 16 (Reuters) - 
    * FY NET SALES $2,020.8 MILLION VERSUS $1,536.7 MILLION
    * FY OPERATING PROFIT OF US$132.7 MILLION VERSUS OPERATING
LOSS OF
US$1,266.2 MILLION
    * FY ADJUSTED NET INCOME $17.4 MILLION VERSUS LOSS OF $406.1
MILLION
    * FY PROFIT ATTRIBUTABLE US$14.3 MILLION VERSUS LOSS
ATTRIBUTABLE
US$1,277.7 MILLION
    * OUTLOOK FOR 2022 IS MIXED
    * RECENT RESURGENCE OF COVID-19 CASES DUE TO OMICRON VARIANT
CAUSED SALES RECOVERY TO SLOW IN JANUARY 2022,
    * UNTIL FURTHER NOTICE WE HAVE SUSPENDED ALL COMMERCIAL
ACTIVITIES
IN RUSSIA
    * INTEND TO INCREASE MARKETING INVESTMENT IN 2022
    * ALSO STOPPED ALL PRODUCT SHIPMENTS BOTH INTO AND WITHIN
RUSSIA
AND HAVE SUSPENDED ALL FURTHER INVESTMENTS THERE
    * TEMPORARILY CLOSED OUR 37 COMPANY-OPERATED RETAIL STORES
IN
RUSSIA AS WELL AS OUR E-COMMERCE SITES THERE
    * SALES RECOVERY IMPROVED IN FEBRUARY
    * BUSINESS DEVELOPMENT ACTIVITIES AND ADVERTISING IN RUSSIA
HAVE
ALSO BEEN TEMPORARILY DISCONTINUED
    * CONFLICT AND RESULTING RISE IN GEOPOLITICAL TENSIONS HAVE
ADDED
SOME UNCERTAINTY TO OUTLOOK FOR 2022
    * DECLINE IN SAMSONITE'S NET SALES FOR FIRST TWO MONTHS OF
2022
COMPARED TO SAME PERIOD IN 2019 WAS ABOUT IN LINE WITH 28.0%


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