The Zhitong Finance App learned that Yamato released a research report saying that Samsonite (01910.HK)'s second-quarter results were in line with expectations. Excluding the impact of tariff rebates, gross margin and EBITDA profit margin both improved quarterly. In terms of fixed exchange rates, sales for the second quarter fell 2% year on year, and remained roughly the same after excluding the Middle East and India. Gross margin increased by 3 percentage points to 62% year over year. According to the report, demand for Samsonite has yet to recover, but it may have bottomed out in the second quarter. The company expects the adjusted EBITDA margin to continue to improve quarterly in the third quarter. To reflect the price adjustment plan (which is expected to be implemented in the fourth quarter of this year), the bank raised Samsonite's gross margin forecast for next year by 2 to 3% per share from 2027 to 28, and raised the target price from HK$17.6 to HK$17.8, reaffirming the “buy” rating.

The Zhitong Finance App learned that Yamato released a research report saying that Samsonite (01910.HK)'s second-quarter results were in line with expectations. Excluding the impact of tariff rebates, gross margin and EBITDA profit margin both improved quarterly. In terms of fixed exchange rates, sales for the second quarter fell 2% year on year, and remained roughly the same after excluding the Middle East and India. Gross margin increased by 3 percentage points to 62% year over year. According to the report, demand for Samsonite has yet to recover, but it may have bottomed out in the second quarter. The company expects the adjusted EBITDA margin to continue to improve quarterly in the third quarter. To reflect the price adjustment plan (which is expected to be implemented in the fourth quarter of this year), the bank raised Samsonite's gross margin forecast for next year by 2 to 3% per share from 2027 to 28, and raised the target price from HK$17.6 to HK$17.8, reaffirming the “buy” rating.