Samsonite International ( (SMSEY) ) has released its Q3 earnings. Here is a breakdown of the information Samsonite International presented to its investors.
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Samsonite International S.A., a leading global luggage manufacturer, specializes in travel and non-travel products across various brands and distribution channels. The company’s latest earnings report for the third quarter of 2024 highlights a challenging period marked by a decline in net sales and profitability. Key figures reveal an 8.3% drop in net sales to $877.7 million compared to the same period last year, attributed to softer consumer sentiment, particularly in China, and increased caution from North American wholesale customers. Despite these challenges, Samsonite continues to invest in marketing and direct-to-consumer channels, while also repurchasing shares under a substantial buyback program. As the company advances its dual listing plans in the U.S., management remains optimistic about value creation through enhanced trading volumes and accessibility for global investors.