Workflow
新秀丽：Weak FY24 dragged by TUMI and American Tourister, 1Q25 sales to decline LSD-MSD-20250331
01910SAMSONITE(01910) 招银国际·2025-03-31 10:23

31 Mar 2025 Target Price HK25.35(PreviousTPHK25.35 (Previous TP HK28.00) Up/Downside 36.9% Current Price HK18.52ChinaConsumerMiaoZHANG(852)37618910CMBInternationalGlobalMarkets∣EquityResearch∣CompanyUpdateSamsonite(1910HK)WeakFY24draggedbyTUMIandAmericanTourister,1Q25salestodeclineLSD−MSDSamsonitedeliveredmixedperformanceinFY24within−linerevenue,yetNPmissedCMBIestimateby818.52 China Consumer Miao ZHANG (852) 3761 8910 CMB International Global Markets | Equity Research | Company Update Samsonite (1910 HK) Weak FY24 dragged by TUMI and American Tourister, 1Q25 sales to decline LSD-MSD Samsonite delivered mixed performance in FY24 with in-line revenue, yet NP missed CMBI estimate by 8%. Overall net sales (organic) were flat in both FY24 and 4Q24 (-0.2%/+1% YoY) at US 3.6bn on a high ba ...