SAMSONITE (01910) released its performance for the first three quarters of 2024, with a net profit attributable to shareholders of $236 million, a 7.5% decrease compared to the same period last year.

SAMSONITE (01910) announced its third quarter performance for 2024, with sales netting $878 million as of September 30, 2024, a decrease of 8.3% compared to the same three months ending September 30, 2023, or a decrease of 6.8% based on constant exchange rates. The group experienced weaker consumer confidence globally than expected, especially in China. The group was also impacted by more cautious wholesale customers in North America. Additionally, the group faced intensified promotional environments in all its markets (especially in India). As of the three months ending September 30, 2024, the profit attributable to equity holders was $66.2 million, a decrease of $42.5 million or 39.1% compared to the same period last year, or a decrease of 34.2% based on constant exchange rates. As of the nine months ending September 30, 2024, the net sales were $2.646 billion, a decrease of 3.2% compared to the same nine months ending September 30, 2023, or a decrease of 0.6% based on constant exchange rates. Weak consumer confidence in several markets during the first nine months of 2024 led to reduced spending on discretionary items. In contrast, the group's net sales in the first nine months of 2023 were driven by robust travel demand and consumer spending post-pandemic, as well as large wholesale customers rebuilding their inventory levels. As of the nine months ending September 30, 2024, the profit attributable to equity holders was $236 million, a decrease of $19 million or 7.5% compared to the same period last year, or a decrease of 0.4% based on constant exchange rates.