HK Stock Market Move | SAMSONITE (01910) falls nearly 3%; Daiwa expects third-quarter sales to edge down year-on-year, with the company's business trends expected to improve.

SAMSONITE (01910) fell nearly 3%, down 2.33% as of press time, at HK$12.58, with turnover of HK$6.4247 million. On the news front, Daiwa issued a research report noting that SAMSONITE's third-quarter business trends were slightly better than expected in its September update, and it expects third-quarter sales to edge down 0.5% year-on-year at constant currency, outperforming the 2% year-on-year decline in the second quarter. Daiwa forecasts SAMSONITE's third-quarter gross margin and adjusted EBITDA margin (excluding tariff refunds) at 60.3% and 14.4% respectively, similar to the second quarter. On the market side, Daiwa expects the year-on-year sales decline in North America to narrow from 6% in the second quarter to 4%; Asia's performance to outperform the second quarter's 1% year-on-year growth, with the Chinese market expected to maintain the second quarter's 9% year-on-year growth momentum, the Indian market's decline to narrow, the Japanese market likely to be similar to the second quarter's 3% year-on-year growth, and South Korea's growth possibly slightly slower; Europe's performance likely to be similar to the second quarter, while Latin America is expected to be faster than the second quarter.