Financial Data and Key Metrics Changes - The company reported Q4 net sales of $942 million, a 1% increase in constant currency compared to Q4 last year, which was up 21% versus 2019 [5][27] - Gross margin improved to 60.2%, up 30 basis points from the prior year, driven by disciplined promotion and discount strategies [5][75] - Adjusted EBITDA for Q4 reached $195 million, with a record EBITDA margin of 20.7%, up 160 basis points year-over-year [7][71] - Free cash flow generation for the quarter was $135 million, an increase of $3 million from Q4 2023 [7][73] - For the full year, adjusted net income was $3.7 billion, slightly down from $3.92 billion the previous year [29][77] Business Line Data and Key Metrics Changes - The Samsonite brand saw a 4.6% increase in Q4, while Tumi was up 4.4% in the same period, indicating strong recovery post-pandemic [12][20] - American Tourister experienced a decline of 6.9% in Q4, but was up 1.3% when excluding India [14][15] - Non-travel product categories continued to grow, with a 2% increase overall across all brands [82] Market Data and Key Metrics Changes - In Asia, sales were down 6% in Q4, with India significantly impacting results, showing a decline of 27% [8][9] - North America showed improvement, with sales up 3.9% in Q4 compared to a decline of 8% in Q3 [10] - Europe delivered a solid performance with a 5.6% growth in Q4, while Latin America continued to grow at 14% [11][24] Company Strategy and Development Direction - The company is focused on brand elevation and maintaining a disciplined approach to expenses, with a commitment to managing costs effectively while expanding [6][30] - There is a strategic emphasis on direct-to-consumer (DTC) channels, which saw a slight increase in mix, contributing to gross margin benefits [29][50] - The company plans to continue investing in non-travel categories and expanding its retail footprint, particularly in Asia and Europe [25][53] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about travel trends remaining robust, which is expected to drive long-term growth [91] - There are positive signs of recovery in India, with expectations for improvement in Q1 2025 [9][80] - The company is monitoring consumer sentiment closely, especially in the premium and luxury segments, which have shown some softness [37][81] Other Important Information - The company has made significant progress in sustainability, with 40% of products incorporating recycled materials [63][67] - The company has a strong liquidity position with over $1.4 billion available as of year-end [74][86] - The company is celebrating Tumi's 50th anniversary with new product launches and marketing campaigns [59][60] Q&A Session Summary Question: What are the expectations for travel trends in the coming years? - Management indicated that travel trends are expected to remain robust, which will help deliver long-term growth for the business [91] Question: How is the company addressing the challenges in the Indian market? - Management noted that while India faced significant challenges, there are signs of stabilization and positive trends expected in Q1 2025 [9][80] Question: What is the company's strategy regarding sustainability? - The company highlighted its commitment to sustainability, with significant progress in incorporating recycled materials into products and achieving a strong sustainability rating [63][67]