Samsonite (01910) later fell by more than 13%. As of press release, it fell 11.61% to HK$25.5, with a turnover of HK$321 million.
The Zhitong Finance App learned that Samsonite (01910) had a sharp drop of more than 13%. As of press release, it fell 11.61% to HK$25.5, with a turnover of HK$321 million.
According to the news, Samsonite announced its results for the first quarter of 2024, with net sales of about US$860 million, up 0.9% year on year; gross profit of US$519.5 million, up 5% year on year; profit attributable to equity holders of US$82.9 million, up 12.3% year on year. According to CICC, the results fell short of expectations, mainly due to declining sales and rising distribution rates in the European market.
Management said at the results meeting that in view of the inflation environment, travel growth is gradually slowing down, and the company slightly lowered its revenue growth guide to a high single digit to 10% (previously the guideline was high single digit to low double digit), including high single-digit growth of 1H24 and low double-digit growth of 2H24. The company maintains the adjusted EBITDA profit margin expansion guidelines of 20-30 bps; management is proceeding with the second listing, but it is still in the early stages of discussion, and there is no clear timeline.