Capital Channel app learned that Samsonite (01910) rose by over 3% again, with a cumulative increase of over 13% after the performance announcement. As of the time of writing, it increased by 3.15%, to 20.3 Hong Kong dollars, with a turnover of 77.379 million Hong Kong dollars.

On the news front, Samsonite released its performance for the third quarter of 2024. For the three months ended September 30, 2024, net sales amounted to 0.878 billion US dollars, a decrease of 8.3% year-on-year (a decrease of 6.8% based on constant exchange rates). This was attributed to weaker-than-expected consumer confidence globally and intensified promotional activities in various markets, especially in India. The attributable net profit to equity holders was 66.2 million US dollars, a decrease of 42.5 million US dollars or 39.1% year-on-year (a decrease of 34.2% based on constant exchange rates).

China Merchants Securities pointed out that overall consumer willingness is weak, the company's performance in the third quarter did not meet expectations, but management indicated an improvement since the fourth quarter compared to the third quarter. We expect the company's full-year revenue to remain flat to slightly decrease. Due to changes in brand structure and cost pressures, the profit forecast for the company has been revised down. Bank of America Securities noted that Samsonite's third-quarter performance fell short of expectations, with expectations of a recovery in the fourth quarter, lowering the adjusted EBITDA forecasts for this and the next year by 6% each, as well as profit forecasts by 11% and 13%, to reflect the quarterly performance.