Samsonite's Q1 Profit Slides 43%; Shares Fall 9%

MT Newswires Live

05/14

Samsonite International's (HKG:1910) attributable profit fell 43% to $48.2 million in the first quarter from $83.9 million in the year-ago period, according to a Tuesday filing with the Hong Kong bourse.

Earnings per share at the luggage manufacturer decreased to $0.034 from $0.057 in the prior-year period. Analysts at Visible Alpha estimated EPS at $0.05.

Net sales declined 7.3% to $796.6 million from $859.6 million in the year-ago period. Visible Alpha analysts forecast revenue at $817.9 million.

Sharse slid 9% during afternoon trading on Wednesday.

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