Samsonite 1910

Re: Samsonite 1910

Postby winston » Mon Apr 22, 2013 8:15 pm

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Samsonite International said on Monday its net sales increased by 15.6 percent for the first three months of 2013 from a year earlier, with North America seeing the biggest percentage increase in the first quarter.

Source: Reuters
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Re: Samsonite 1910

Postby winston » Wed Apr 23, 2014 7:57 pm

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SAMSONITE (01910.HK) rated Outperform, target lifted to $29 - CS

SAMSONITE (01910.HK) +0.600 (2.469%) Short selling $15.04M; Ratio 16.461% reported an operating revenue growth of 9.6% in the first quarter, coming in line with Credit Suisse's projection (12.3% under constant FX).

As expected, North America sales normalised to 4.5% (constant FX) in the first quarter, in line with the company's 2014 target of mid- to high single-digit growth.

The broker forecast SAMSONITE's 2014 operating revenue growth would reach 15% in 2014 on the back of new releases in Asia and favourable catalysts in Europe.

The broker also believed the market has undervalued the long-term brand value of SAMSONITE. The company was kept Outperform with target price lifted from $27 to $29.

Source: AAStocks Financial News
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Re: Samsonite 1910

Postby winston » Wed Jun 04, 2014 2:50 pm

<Research Report>SAMSONITE (01910.HK) target hiked to $29, rated Overweight - HSBC

HSBC said in a report that SAMSONITE (01910.HK)'a acquisition of Speck will be beneficial to further improvement of the company's product portfolio.

The company expects Speck's EBITDA margin may increase to the same level as other business in the United States.

Moreover, the company planned to use US$1 billion to conduct acquisition, but it actually spent only US$110 million, so there may be other acquisitions as well.

It is expected that the company has operating cash flow of US$300 million, which should be able to handle the 45% distribution.

The Overweight rating was maintained for the stock, with target price lifted from $28.5 to $29.

Source: AAStocks Financial News
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Re: Samsonite 1910

Postby winston » Fri Jun 20, 2014 4:45 am

US$85m deal in bag

Samsonite International (1910) has acquired outdoor backpack brand Gregory Mountain Products from Utah- based Black Diamond for US$85 million (HK$663 million) in cash.

The US-based luggage maker and retailer is seeking to broaden its presence in the outdoor category amid strong growth in backpack sales. Samsonite already owns mid-market backpack brand High Sierra.

Samsonite hopes Gregory, which had revenue of US$34.9 million in 2013, will help it tap the premium segment.

Another new buy was Speck Products, a maker of protective cases for electronic devices, for US$85 million.

Samsonite has also announced an increase in its revolving credit facility from US$300 million to US$500 million as it continues to look for acquisitions.

Samsonite stock fell 1.41 percent to HK$24.4 yesterday.


Source: The Standard HK
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Re: Samsonite 1910

Postby winston » Fri Jun 20, 2014 8:26 am

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A pleasant surprise

Samsonite proposed to acquire Gregory Mountain Products, a technical outdoor backpack brand, for US$85m in cash. This is Samsonite’s third acquisition in 2014 (deal expected to close in late-Jul).

The acquisition itself is not a surprise but it happened earlier than expected. When it acquired Speck on 29 May, management had said that another acquisition this quarter was unlikely.

We believe the acquisition complements Samsonite’s High Sierra line and broadens its presence in the outdoor category.

Samsonite is confident that the acquisition will be earnings accretive in 2015 and we concur.

We keep our forecasts, Add rating and target price of HK$28.50, based on 19-20x CY15 P/E, in line with peers’ average.

A potential catalyst is further margin expansion.


Source: CIMB
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Re: Samsonite 1910

Postby winston » Wed Aug 27, 2014 7:24 pm

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SAMSONITE (01910.HK) 1H net profit rises 13.97%; no div

SAMSONITE (01910.HK) +0.300 (+1.227%) Short selling $6.75M; Ratio 8.273% reported interim fiscal results.

Net sales increased 12.4% yearly to USD1.105 billion.

[b]Net profit jumped 13.97% yearly[/b] to $96.976 million.

EPS was $0.069, and no dividend was declared.


Source: AAStocks Financial News
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Re: Samsonite 1910

Postby winston » Fri Oct 17, 2014 3:57 pm

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<Research Report>SAMSONITE (01910.HK) kept Buy, target lowered to $26 - Deutsche

Deutsche Bank maintained SAMSONITE (01910.HK)'s Buy rating given its leading role in the field of tourism (with strong cash flow) and the multi-brand synergy effect.

Considering that the company intends to use its savings for reinvestment, the adjusted 2015 EBITM is expected to stay flat next year.

The bank cut the 2014-16 earnings forecasts by 3.3%/4.6%/5.1%, with target price lowered from $27.1 to $26.

Source: AAStocks Financial News
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Re: Samsonite 1910

Postby winston » Wed Mar 18, 2015 5:39 am

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Samsonite has US$186m in the bag

The world's largest travel luggage firm, Samsonite International (1910), saw total sales jump 15.4 percent last year from 2013, boosted by Asia and North America, while net profit rose 5.8 percent to US$186.3 million (HK$1.45 billion).

Adjusted profit, excluding acquisition costs and foreign exchange translation losses, rose 16.3 percent.

Earnings per share rose 5.6 percent to 13.20 US cents and 6.25 US cents of dividend per share was proposed.

Chief financial officer Kyle Gendreau expects to see double- digit growth of both profit and revenue this year, given a healthy performance in the first two months.

Gendreau said the 25 percent depreciation of the euro last year brought some pressure, but the firm has hedged 75 percent of its expenditures in euros.

He expressed confidence in maintaining the current gross profit margin, as the firm is able to adjust sales prices in different markets when the exchange rate changes sharply. It has raised prices in Japan.

Samsonite acquired Lipault, Speck Products, Gregory, and Rolling Luggage in 2014 and earlier this year.

Chief executive Ramesh Tainwala said acquisitions will continue. The firm, led by non- executive chairman Timothy Parker, is interested in brands that will help expand its retail channels, Tainwala said.

Separately, Trinity Limited (0891), which retails men's wear in Greater China and Europe, said 2014 net profit fell 47.8 percent to HK$161 million.

Source: The Standard HK
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Re: Samsonite 1910

Postby winston » Fri Jun 26, 2015 1:44 pm

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<Research Report>HSBC Maintains SAMSONITE(01910.HK) at Buy with Target Lifted to $33

HSBC, in its report, stated that SAMSONITE(01910.HK)'s fundamentals are still reliable.

However, the share price does not have any short-term catalysts apart from the long-term M&A activities.

The group had an excellent M&A record. In 2011, excluding two major brands "Samsonite" and "American Tourister", the sales of other brands accounted for nearly 5% of the total.

This number rose to near 17% this year. The management has focused on factors like casual, technology and business rather than luggage brands that could cannibalize the existing business and sales and cost synergies have come quickly.

The broker reiterated the rating at Buy with the target price lifted to $33 from $30.

Source: AAStocks Financial News
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Re: Samsonite 1910

Postby winston » Fri Mar 04, 2016 9:11 am

Samsonite Close To Buying Tumi For About $2 Billion: WSJ

By Shuli Ren

The Wall Street Journal reported that Hong Kong-listed luxury luggage maker Samsonite (1910.Hong Kong) is near a deal to buy competitor Tumi (TUMI), valuing the latter at close to $2 billion.

As of Wednesday’s close, Tumi had a $1.4 billion market cap and this stock has risen 21% this year. It is valued at 20.4 times forward earnings.

Samsonite, by comparison, has risen only 1.7% this year to $4.3 billion market cap and 18.7 times earnings valuation.

Samsonite issued a trading halt this afternoon in Hong Kong.

Source: Barron's Asia
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