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<Research>Citi Trims Earnings Forecast & TP for SAMSONITE, Expects Earnings Pressure to Persist into Subsequent Quarters
According to a report from Citi, SAMSONITE (01910.HK)'s 1Q25 adjusted net profit fell by 40% YoY to USD52 million, missing expectations. This underperformance was primarily due...
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<Research>Citi Trims Earnings Forecast & TP for SAMSONITE, Expects Earnings Pressure to Persist into Subsequent Quarters
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According to a report from Citi, SAMSONITE (01910.HK)  -0.060 (-0.427%)    Short selling $9.93M; Ratio 12.043%   's 1Q25 adjusted net profit fell by 40% YoY to USD52 million, missing expectations. This underperformance was primarily due to a high base, dull consumer sentiment, changes in North American wholesale timing leading to weak revenue, and poorer-than-expected operational deleveraging.

In Citi's estimate, pressure on SAMSONITE's earnings will persist into subsequent quarters because of the ongoing impact of tariffs on consumer demand and profit margins. Meanwhile, management predicted 2Q revenue to decline by mid-single digits YoY despite a lower comparison base.

Related NewsUBS Elevates SAMSONITE (01910.HK) TP to $16.3; 1Q Profit Margin Misses
Considering a more cautious outlook on sales and profit margins and tariff uncertainties, Citi dropped its earnings forecast for SAMSONITE by 22-29% and its target price from HKD26 to HKD19.7, with a Buy rating remaining in place.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-05-15 12:25.)

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