Core Viewpoint - Daiwa has adjusted Samsonite's (01910) earnings forecast for 2025 down by 2%, but raised the 2026 earnings forecast by 3% due to stronger recovery potential in the Asian and North American markets. The rating remains "Hold" due to a lack of catalysts and low visibility. However, a stronger recovery is expected in 2026 supported by global travel demand. The target price has been slightly increased from HKD 15 to HKD 16 [1][1][1] Group 1: Earnings Forecasts - The earnings forecast for 2025 has been reduced by 2% while the forecast for 2026 has been increased by 3% [1][1] - The expected revenue decline for Q3 is projected to narrow to 1.4%, aligning with management guidance [1][1] Group 2: Brand Performance - Tumi's overall performance is expected to improve, while American Tourister remains the weakest brand [1][1] - Adjusted EBITDA margin is anticipated to remain under pressure due to regional structural changes and operational deleveraging [1][1] Group 3: Market Insights - The gross margin and adjusted EBITDA margin are expected to decline by 0.7 and 0.6 percentage points year-on-year, reaching 58.6% and 17% respectively [1][1] - There is cautious optimism regarding the turnaround of the Indian business in 2026, as major competitors have undergone significant restructuring, potentially leading to more rational market competition [1][1] - The dual listing plan in the U.S. is believed to be progressing, but may not materialize until mid-2026 at the earliest [1][1]

Core Viewpoint - Samsonite's stock has increased by over 4%, currently trading at HKD 16.58, with a transaction volume of HKD 35.14 million. The company will hold a board meeting on November 12 to consider and approve its quarterly performance report for the three and nine months ending September 30, 2025 [1]. Group 1: Financial Performance - In the first half of the year, Samsonite's sales decreased by 5.2% on a constant currency basis. However, it is expected that sales will gradually improve in the second half, with the decline narrowing to 3.3%, primarily due to a lower comparison base, especially in the third quarter, which is the lowest for the year [1]. - HSBC forecasts that sales in the third quarter will decline by 2.5% on a constant currency basis [1]. Group 2: Future Outlook - HSBC maintains a target price of HKD 21 and a "Buy" rating for Samsonite, anticipating a potential revaluation of the stock as sales are expected to improve in the third quarter of this year and return to growth next year [1]. - There is a clear possibility of the company pursuing a dual listing in the United States in the first half of next year [1].

Core Viewpoint - Samsonite (01910) shares rose over 4%, currently up 4.61% at HKD 16.58, with a trading volume of HKD 35.14 million [1] Financial Performance - Samsonite will hold a board meeting on November 12 to consider and approve the quarterly performance report for the three and nine months ending September 30, 2023 [1] - HSBC reported that Samsonite's sales decreased by 5.2% in the first half of the year on a constant currency basis, but expects a gradual improvement in the second half, with the decline narrowing to 3.3% [1] - The bank anticipates a 2.5% drop in sales for the third quarter, which has the lowest comparison base of the year [1] Investment Outlook - HSBC maintains a target price of HKD 21 and a "Buy" rating for Samsonite, suggesting potential for a revaluation of shares as sales are expected to improve in the third quarter and return to growth next year [1] - There is a clear possibility of the group achieving a dual listing in the United States in the first half of next year [1]

Core Viewpoint - The report from Daiwa indicates that due to a low base effect, the expected revenue decline for Samsonite in Q3 will narrow to 1.4%, aligning with management guidance [1] Financial Performance - The adjusted EBITDA margin is expected to remain under pressure due to regional structural changes and operational deleveraging, with projected Q3 gross margin and adjusted EBITDA margin decreasing by 0.7 and 0.6 percentage points year-on-year, reaching 58.6% and 17% respectively [1] Future Outlook - The dual listing plan in the U.S. is believed to be progressing, but it may not be realized until mid-2026 at the earliest [1] - The earnings per share forecast for 2025 has been lowered by 2%, while the forecast for 2026 has been raised by 3% due to potentially stronger recoveries in the Asian and North American markets [1] - A stronger recovery is anticipated in 2026 supported by ongoing global travel demand, leading to a slight increase in the target price from HKD 15 to HKD 16, while maintaining a "Hold" rating due to a lack of catalysts and low visibility [1]

Core Viewpoint - Samsonite (01910.HK) announced that its board of directors will hold a meeting on November 12, 2025, to consider and approve the quarterly performance report for the three and nine months ending September 30, 2025, along with other matters [1] Group 1 - The board meeting is scheduled for November 12, 2025 [1] - The meeting will address the quarterly performance report for the periods ending September 30, 2025 [1] - Other matters will also be discussed during the board meeting [1]

承董事會命 SAMSONITE GROUP S.A. 新秀麗集團有限公司 John B. Livingston 聯席公司秘書 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或 完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚賴該 等內容而引致的任何損失承擔任何責任。 美國馬薩諸塞州曼斯菲爾德，2025 年 10月 10日 SAMSONITE GROUP S.A. 新秀麗集團有限公司 13–15 Avenue de la Liberté, L-1931 Luxembourg R.C.S. LUXEMBOURG: B 159.469 （於盧森堡註冊成立之有限公司） (股份代號: 1910) 董事會召開日期 Samsonite Group S.A. 新秀麗集團有限公司 (「本公司」) 董事會 (「董事會」) 兹通告謹定 於 2025 年 11 月 12 日 (星期三) 舉行董事會會議，以考慮及通過本公司及其附屬公司截至 2025 年 9 月 30 日止三個月和九個月的季度業績報告，以及處理其他事項。 於本公告日期，執行董事為 Kyle Franci ...

Group 1 - T. Rowe Price Associates, Inc. and its Affiliates increased their stake in Samsonite International S.A. (01910.HK) by purchasing 4,896,600 shares at an average price of HKD 16.926 per share, totaling approximately HKD 82.88 million [1][2] - Following the acquisition, T. Rowe Price's total shareholding in Samsonite rose to 100,990,800 shares, increasing their ownership percentage from 6.93% to 7.29% [1][2]

Group 1 - T. Rowe Price Associates, Inc. and its Affiliates increased their stake in Samsonite International S.A. (01910) by acquiring 4.8966 million shares at an average price of HKD 16.926 per share, totaling approximately HKD 82.8799 million [1] - Following the acquisition, the total number of shares held by T. Rowe Price is approximately 101 million, representing a holding percentage of 7.29% [1]

Group 1 - T.Rowe Price Associates, Inc. and its Affiliates increased their stake in Samsonite International S.A. (01910) by 4.8966 million shares at an average price of HKD 16.926 per share, totaling approximately HKD 82.8799 million [1] - Following the increase, T.Rowe Price's total shareholding in Samsonite is approximately 101 million shares, representing a holding percentage of 7.29% [1]

Group 1 - T. Rowe Price Associates, Inc. and its Affiliates increased their stake in Samsonite International S.A. (01910) by acquiring 4.8966 million shares at an average price of HKD 16.926 per share, totaling approximately HKD 82.8799 million [1] - Following the acquisition, T. Rowe Price's total shareholding in Samsonite is approximately 101 million shares, representing a holding percentage of 7.29% [1]