Samsonite Group S.A. (Samsonite) released unaudited results for the three months ended 31 March 2026. Net sales increased 4.1% year on year to USD 829.10 million (+0.4% on a constant-currency basis). Gross profit rose 3.4% to USD 489.00 million, keeping gross margin broadly stable at 59.0%.

Operating profit declined 16.7% to USD 91.30 million as distribution and marketing spending outpaced revenue growth. Profit for the period dropped 31.6% to USD 37.70 million; adjusted EBITDA slid 14.6% to USD 109.00 million, reducing the margin to 13.1% (Q1 2025: 16.0%).

Regional performance was mixed. Asia remained the largest contributor, up 3.0% to USD 316.20 million despite Middle East headwinds. Europe recorded the strongest expansion, climbing 11.3% to USD 195.40 million, aided by a weaker U.S. dollar. North America contracted 1.4% to USD 257.90 million on softer wholesale demand, while Latin America gained 13.5% to USD 59.60 million.

By brand, Samsonite sales increased 5.8% to USD 431.20 million, TUMI improved 2.7% to USD 191.90 million and American Tourister was broadly flat at USD 131.20 million (+1.1%). The lifestyle bags category grew 8.8% to USD 312.00 million and now represents 37.6% of total revenue.

Channel mix continued to shift toward direct-to-consumer (DTC). Wholesale revenue edged up 1.3% to USD 498.90 million, while DTC rose 8.6% to USD 330.20 million, reaching 39.8% of group sales. E-commerce advanced 16.4% to USD 98.70 million and accounted for 11.9% of total revenue.

Higher operating costs pressured margins. Distribution expenses grew 10.8% to USD 284.30 million (34.3% of sales), reflecting freight, depreciation and inflation. Marketing spend rose 12.8% to USD 47.50 million, representing 5.7% of sales. General and administrative costs were broadly flat at USD 62.20 million.

Cash generation strengthened. Net cash from operating activities reached USD 85.40 million versus USD 8.50 million a year earlier, supported by working-capital improvements and lower tax payments. Adjusted free cash flow swung to a positive USD 27.30 million from a negative USD 41.20 million.

The balance sheet showed cash and cash equivalents of USD 670.40 million against total debt of USD 1.74 billion, producing net debt of USD 1.07 billion (down from USD 1.10 billion at end-2025). Total liquidity stood at USD 1.51 billion.

On 13 May 2026, the board approved a USD 50 million share-repurchase programme, to be executed subject to market conditions and capital priorities.