Samsonite Group SA

01910: XHKG (HKG)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Samsonite Earnings: Navigating Promotional Pressures and Tariff Risks

Ivan Su

Nov 19, 2024

Narrow-moat Samsonite’s third-quarter earnings were below our estimates. Nonetheless, management sees sales improvement in the fourth quarter, and its slightly lowered guidance for 2024 is still in line with our forecast. We maintain our fair value estimate of HKD 27 per share on Samsonite and view shares as undervalued. Shares are trading at 8 times our projected 2025 earnings and offer a decent 4% dividend yield.

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Samsonite Group SA

Samsonite Earnings: Navigating Promotional Pressures and Tariff Risks

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