SAMSONITE-新秀丽(01910) - 2024 Q3 - 季度业绩

Financial Performance - Net sales for the three months ended September 30, 2024, were $877.7 million, a decrease of 8.3% compared to$ 957.7 million in the same period in 2023 (6.8% decrease on a constant currency basis)[3][4] - Gross profit for the three months ended September 30, 2024, was $520.1 million, down 8.9% from$ 570.9 million in the same period in 2023 (7.0% decrease on a constant currency basis)[3] - Operating profit for the three months ended September 30, 2024, was $133.0 million, a decrease of 27.2% from$ 182.6 million in the same period in 2023 (25.0% decrease on a constant currency basis)[3][4] - Net income attributable to equity holders for the three months ended September 30, 2024, was $66.2 million, down 39.1% from$ 108.7 million in the same period in 2023 (34.2% decrease on a constant currency basis)[3] - Adjusted EBITDA for the three months ended September 30, 2024, was $154.6 million, a decrease of 20.3% from$ 194.0 million in the same period in 2023 (18.5% decrease on a constant currency basis)[3] - Net profit for the three months ended September 30, 2024, was $71.5 million, a decrease of$ 45.0 million or 38.6% compared to $116.5 million in the same period last year (34.1% decrease on a constant currency basis)[5] - Adjusted EBITDA for the three months ended September 30, 2024, was$ 154.6 million, a decrease of $39.4 million or 20.3% compared to the same period last year (18.5% decrease on a constant currency basis)[5] - Net sales for the nine months ended September 30, 2024, were$ 2,646.2 million, a decrease of 3.2% compared to $2,733.9 million in the same period last year (0.6% decrease on a constant currency basis)[7] - Operating profit for the nine months ended September 30, 2024, was$ 447.7 million, a decrease of $47.1 million or 9.5% compared to$ 494.7 million in the same period last year (5.7% decrease on a constant currency basis)[8] - Profit for the nine months ended September 30, 2024, was $255.6 million, a decrease of$ 25.6 million or 9.1% compared to $281.3 million in the same period last year (2.7% decrease on a constant currency basis)[8] - Net profit attributable to equity holders for the nine months ended September 30, 2024, was$ 235.6 million, a decrease of $19.0 million or 7.5% compared to the same period last year (a decrease of 0.4% on a constant currency basis)[9] - Adjusted EBITDA for the nine months ended September 30, 2024, was$ 488.1 million, a decrease of $40.2 million or 7.6% compared to the same period last year (a decrease of 4.0% on a constant currency basis)[9] - Adjusted net income for the nine months ended September 30, 2024, was$ 253.7 million, a decrease of $42.9 million or 14.5% compared to the same period last year (a decrease of 8.4% on a constant currency basis)[9] - Net sales for the three months ended September 30, 2024, were$ 877.7 million, a decrease of 8.4% compared to $957.7 million in the same period in 2023[15] - Gross profit for the nine months ended September 30, 2024, was$ 1,584.9 million, down 1.8% from $1,614.5 million in the same period in 2023[15] - Operating profit for the three months ended September 30, 2024, was$ 133.0 million, a decrease of 27.2% compared to $182.6 million in the same period in 2023[15] - Net profit attributable to equity holders for the nine months ended September 30, 2024, was$ 235.6 million, down 7.5% from $254.6 million in the same period in 2023[15] - Total comprehensive income for the nine months ended September 30, 2024, was$ 228.9 million, a decrease of 11.6% compared to $259.0 million in the same period in 2023[16] - Net profit for the three months ending September 30, 2024, was$ 66.2 million, contributing to a total comprehensive income of $77.0 million[18] - For the nine months ending September 30, 2024, the company reported a net profit of$ 235.6 million, with total comprehensive income reaching $228.9 million[20] - Net sales for the three months ended September 30, 2024, decreased by$ 79.9 million or 8.3% (6.8% on a constant currency basis) compared to the same period in 2023, driven by weaker global consumer confidence, particularly in China, and cautious wholesale clients in North America[23] - The company reported a net profit of $254.6 million for the nine months ended September 30, 2023, contributing to a total comprehensive income of$ 259.0 million[21] - Net sales for the company decreased by 8.3% year-over-year to $877.7 million in Q3 2024, with a constant currency decrease of 6.8%[25] - Gross profit decreased by 8.9% to$ 520.1 million (59.3% gross margin) in Q3 2024 compared to $570.9 million (59.6% gross margin) in Q3 2023[70] - Operating profit declined by$ 49.6 million or 27.2% (25.0% on a constant currency basis) to $133.0 million, mainly due to a decrease in net sales leading to lower gross profit[75] - Profit before tax decreased by$ 41.0 million or 29.5% (25.8% on a constant currency basis) to $98.0 million[78] - Profit for the period decreased by$ 45.0 million or 38.6% (34.1% on a constant currency basis) to $71.5 million[80] - Profit attributable to equity holders decreased by$ 42.5 million or 39.1% (34.2% on a constant currency basis) to $66.2 million[81] - Adjusted EBITDA decreased by$ 39.4 million or 20.3% (18.5% on a constant currency basis) to $154.6 million, with the adjusted EBITDA margin declining by 270 basis points to 17.6%[83] - Net profit for the three months ended September 30, 2024, was$ 71.5 million, a decrease of 38.6% compared to the same period in 2023[84] - Adjusted EBITDA for the three months ended September 30, 2024, was $154.6 million, a decrease of 20.3% compared to the same period in 2023[84] - Adjusted net income for the three months ended September 30, 2024, was$ 79.7 million, a decrease of 36.6% compared to the same period in 2023[86] - Adjusted basic earnings per share for the three months ended September 30, 2024, was $0.055, compared to$ 0.087 in the same period in 2023[88] - Net sales for the nine months ended September 30, 2024, decreased by $87.6 million or 3.2% compared to the same period in 2023, with a 0.6% decrease on a constant currency basis[94] - Sales in Asia for the nine months ended September 30, 2024, decreased by 5.6% to$ 1,007.6 million, representing 38.1% of total net sales[94] - Sales in North America for the nine months ended September 30, 2024, decreased by 3.0% to $904.0 million, representing 34.1% of total net sales[94] - Sales in Europe for the nine months ended September 30, 2024, increased by 0.3% to$ 581.5 million, representing 22.0% of total net sales[94] - Sales of the Samsonite brand for the nine months ended September 30, 2024, increased by 0.3% to $1,382.8 million, representing 52.3% of total net sales[96] - Sales of the Tumi brand for the nine months ended September 30, 2024, decreased by 4.3% to$ 607.2 million, representing 22.9% of total net sales[96] - Sales of the American Tourister brand for the nine months ended September 30, 2024, decreased by 8.7% to $451.8 million, representing 17.1% of total net sales[96] - Total sales revenue for the nine months ended September 30, 2024, was$ 2,646.2 million, a 3.2% decrease compared to $2,733.9 million in the same period in 2023[100] - Wholesale channel sales decreased by$ 81.4 million or 4.8% (2.6% on a constant currency basis) due to weakened consumer confidence and cautious North American wholesale clients[103] - DTC (Direct-to-Consumer) channel sales decreased by $17.5 million or 2.3% (1.2% increase on a constant currency basis), with a net addition of 52 self-operated retail stores, bringing the total to 1,104 stores[104] - DTC e-commerce sales increased by$ 11.0 million or 4.0% (7.3% on a constant currency basis) to $283.1 million, accounting for 10.7% of total sales[105] - Sales in Asia decreased by$ 59.3 million or 5.6% (2.7% on a constant currency basis), with significant declines in India (-16.4%) and Hong Kong (-18.6%)[106][108] - Japan saw a 3.0% increase in sales (12.6% on a constant currency basis), while Australia experienced a 14.1% increase (15.1% on a constant currency basis)[108] - Latin America's same-store sales increased by 11.7% on a constant currency basis, partially offsetting declines in North America, Asia, and Europe[104] - Net sales in India decreased by $31.4 million or 16.4% (15.3% on a constant currency basis) for the first nine months of 2024 compared to the same period in 2023[109] - Total net sales in Hong Kong decreased by$ 16.2 million or 18.6% (18.7% on a constant currency basis) for the first nine months of 2024 compared to the same period in 2023[110] - Sampsonite brand net sales in Asia decreased by 3.2% (0.2% on a constant currency basis) for the first nine months of 2024 compared to the same period in 2023[110] - American Tourister brand net sales in Asia decreased by 7.7% (5.5% on a constant currency basis) for the first nine months of 2024 compared to the same period in 2023[110] - Tumi brand net sales in Asia decreased by 4.0% (0.3% on a constant currency basis) for the first nine months of 2024 compared to the same period in 2023[110] - Wholesale channel net sales in Asia decreased by 7.7% (5.3% on a constant currency basis) for the first nine months of 2024 compared to the same period in 2023[112] - DTC channel net sales in Asia decreased by 0.4% but increased by 3.5% on a constant currency basis for the first nine months of 2024 compared to the same period in 2023[112] - DTC e-commerce net sales in Asia increased by $2.3 million or 2.2% (5.3% on a constant currency basis) for the first nine months of 2024 compared to the same period in 2023[114] - Net sales in the US decreased by 2.5% for the first nine months of 2024 compared to the same period in 2023[117] - Net sales in Canada decreased by 11.7% (10.8% on a constant currency basis) for the first nine months of 2024 compared to the same period in 2023[117] - North America sales net revenue decreased by 3.0% to$ 904.0 million in the nine months ended September 30, 2024, compared to $932.3 million in the same period in 2023[118] - Samsonite brand sales in North America increased by 2.8% to$ 460.7 million, representing 51.0% of total North America sales[118] - Tumi brand sales in North America decreased by 5.9% to $336.3 million, representing 37.2% of total North America sales[118] - DTC e-commerce sales in North America increased by 3.0% to$ 112.1 million in the nine months ended September 30, 2024, compared to $108.8 million in the same period in 2023[122] - Europe sales net revenue increased by 0.3% to$ 581.5 million in the nine months ended September 30, 2024, compared to $579.9 million in the same period in 2023[123] - Belgium sales in Europe increased by 11.5% to$ 149.7 million, representing 25.7% of total Europe sales[125] - Germany sales in Europe decreased by 10.3% to $72.5 million, representing 12.5% of total Europe sales[125] - Spain sales in Europe increased by 5.2% to$ 53.0 million, representing 9.1% of total Europe sales[125] - The company added 14 new self-operated retail stores in North America, partially offset by the closure of 6 stores, resulting in a net increase of 8 stores to a total of 282 stores as of September 30, 2024[121] - Wholesale sales in North America decreased by 3.2% to $504.0 million, representing 55.7% of total North America sales[120] - Net sales for the nine months ended September 30, 2024, increased by 0.3% to$ 581.5 million compared to $579.9 million in the same period in 2023, with a 2.3% increase on a constant currency basis[127] - The DTC (Direct-to-Consumer) channel saw a 3.9% increase in net sales to$ 245.9 million, representing 42.3% of total net sales, with a 6.4% increase on a constant currency basis[129] - In Europe, DTC retail channel net sales increased by $3.9 million or 2.1% (4.9% on a constant currency basis) for the nine months ended September 30, 2024, compared to the same period in 2023[130] - DTC e-commerce net sales in Europe increased by$ 5.3 million or 10.2% (11.9% on a constant currency basis) to $56.6 million for the nine months ended September 30, 2024[131] - Latin America net sales decreased by$ 1.2 million or 0.8% (18.2% increase on a constant currency basis) for the nine months ended September 30, 2024, compared to the same period in 2023[132] - Mexico's net sales increased by 12.3% to $59.2 million, representing 38.8% of total Latin America net sales, with a 12.4% increase on a constant currency basis[134] - Chile's net sales decreased by 12.7% to$ 41.8 million, representing 27.4% of total Latin America net sales, with a 1.0% decrease on a constant currency basis[134] - Brazil's net sales decreased by 4.6% to $18.9 million, representing 12.4% of total Latin America net sales, with a 0.7% increase on a constant currency basis[134] - The "Other" category in Latin America saw a 2.1% decrease in net sales to$ 32.7 million, representing 21.4% of total Latin America net sales, with a 64.9% increase on a constant currency basis[134] - The company added 15 new self-operated retail stores in Europe, resulting in a net increase of 14 stores, bringing the total to 209 as of September 30, 2024[130] - Net sales for the Samsoite brand increased by 0.6% to $66.1 million, representing 43.3% of total net sales[137] - Tumi brand net sales grew significantly by 28.9% to$ 10.6 million, accounting for 6.9% of total net sales[137] - Wholesale channel net sales increased by 0.8% to $88.0 million, representing 57.6% of total net sales[138] - DTC (Direct-to-Consumer) channel net sales decreased by 2.9% to$ 64.7 million, accounting for 42.4% of total net sales[138] - Latin America DTC retail channel net sales decreased by $2.1 million or 3.5%, but increased by 17.3% on a constant currency basis[139] - The company added a net of 12 self-operated retail stores in Latin America, bringing the total to 190 stores as of September 30, 2024[139] - DTC e-commerce net sales in Latin America increased by$ 0.1 million or 1.6% to $8.2 million, with a 60.9% increase on a constant currency basis[140] - Gross margin improved to 59.9% from 59.1% in