HK-listed Samsonite drops on Q1 earnings miss

Samsonite SA

14/05/2025 03:19

** Samsonite Group SA 1910.HK slides 9.6% to two-week low of HK$13.9; set for biggest one-day pct decline since April 7

** Luxembourg-based luggage bags maker's Q1 profit drops 42.6% y/y, adjusted net income falls 40.3% y/y, net sales down 7.3% y/y

** Co expects Q2 net sales performance to be similar to Q1

** Flags challenges for H2 due to uncertainties around U.S. tariffs

** Citi ("buy") lowers PT to HK$19.7 from HK$26 on earnings miss

** Trims earnings forecasts after co's Q2 outlook, citing more prudent sales and margin outlook amid tariff uncertainty

** "We expect earnings pressure will sustain in following quarters given the lingering tariff impact on consumer demand and margin"

** YTD, stock down 34.3%

 (Reporting by Donny Kwok)

 ((donny.kwok@thomsonreuters.com))