Half Year 2026 Samsonite Group SA Earnings Call Transcript
Key Points
- Samsonite Group SA (SMSGY) delivered resilient underlying net sales growth, with sales up 3.1% in the first half of 2026 excluding the Middle East and India, despite significant regional headwinds.
- The company's gross margin expanded to 60.5% on a reported basis, or 59.5% excluding tariff refunds, driven by favorable sales mix and disciplined execution.
- The D2C e-commerce channel was the fastest-growing channel, up 6.4% in the first half, with strong double-digit growth in Asia and Latin America, and the overall digital business share increased to nearly 21%.
- The company announced a definitive agreement to acquire Base, a fast-growing digitally native lifestyle brand, which is expected to broaden its demographic reach and enhance its digital capabilities.
- Strong product innovation and marketing campaigns, such as the Nexus collection and the new brand ambassador in China, have driven significant consumer engagement and commercial success, with Nexus becoming a top-five collection worldwide.
- Net sales declined by 1.6% on a reported basis and 1.7% on a constant currency basis in Q2 2026, largely due to the more significant-than-expected impact of the Middle East conflict.
- The Middle East business was down 50% in Q2, and India saw a decline of 8% to 10% due to weakened consumer sentiment, directly impacting overall performance.
- North America experienced a more significant constant currency net sales decrease in Q2 due to softening consumer confidence, air travel demand, and cautious buying by wholesale customers.
- Adjusted EBITDA margin declined to 14.1% in Q2 from 16.3% in the prior year, reflecting increased investments in marketing and higher distribution and G&A expenses.
- The company faces ongoing uncertainties from the Middle East conflict and inflationary pressures, which are expected to keep Q3 net sales stable but not improve, and the dual listing is contingent on improved market conditions.
Good day and thank you for standing by. Welcome to Samsonite 2026 interim results presentation.
At this time, all participants are in the listen-only mode. After the speaker's presentation, there will be a question-and-answer session.
To ask a question during the session, you need to press star one and one on your telephone.
Please be advised that today's conference is being recorded. I'd now like to hand the call over to your first speaker today, Mr. Alex Concepcion, BP, Investor Relations.
Thank you. Please go ahead.
Thank you. Welcome to the Samsonite Group interim results conference call. On the call with us today are Kyle Gendro, Chief Executive Officer and Tom Pazuti, Chief Financial Officer.
Before starting today's call, we would like to remind you that any forward-looking statements made on this call involve risks and uncertainties that are subject to the company's provisions as stated in the disclaimers in the
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
