BUZZ-HK-listed Samsonite drops on Q1 earnings miss
Samsonite Group SAshares fell 9.6% to HK$13.9 after reporting a 42.6% drop in Q1 profit and a 40.3% decline in adjusted net income year-on-year. The company anticipates similar net sales performance in Q2 and faces challenges in H2 due to U.S. tariff uncertainties. Citi has lowered its price target from HK$26 to HK$19.7, citing a more cautious outlook on sales and margins. Year-to-date, the stock has decreased by 34.3%.
** Samsonite Group SA 1910.HK slides 9.6% to two-week low of HK$13.9; set for biggest one-day pct decline since April 7
** Luxembourg-based luggage bags maker's Q1 profit drops 42.6% y/y, adjusted net income falls 40.3% y/y, net sales down 7.3% y/y
** Co expects Q2 net sales performance to be similar to Q1
** Flags challenges for H2 due to uncertainties around U.S. tariffs
** Citi ("buy") lowers PT to HK$19.7 from HK$26 on earnings miss
** Trims earnings forecasts after co's Q2 outlook, citing more prudent sales and margin outlook amid tariff uncertainty
** "We expect earnings pressure will sustain in following quarters given the lingering tariff impact on consumer demand and margin"
** YTD, stock down 34.3%
