Q1 2026 Samsonite Group SA Earnings Call Transcript
Key Points
- Samsonite Group SA (SMSGY) reported a 4.1% increase in net sales on a reported basis, with a 0.4% increase on a constant currency basis, despite challenges in the Middle East.
- The company saw strong growth in its direct-to-consumer (D2C) channels, with e-commerce sales growing over 11%.
- Gross margin remained robust at 59%, reflecting disciplined execution across brands and channels.
- Samsonite Group SA (SMSGY) generated strong cash flow, with an increase of $68 million compared to the previous year.
- The company is poised for improved net sales growth in 2026, with expectations of low single-digit growth for the full year.
- The conflict in the Middle East and India has negatively impacted sales, particularly in those regions.
- North America experienced a decline in sales, largely due to macroeconomic uncertainties affecting consumer spending and retail traffic.
- Adjusted EBITDA margin decreased to 13.1% in the first quarter due to higher operational expenses and investments for long-term growth.
- Distribution expenses increased due to inflationary pressures, including higher wages and rents.
- The company anticipates peak marketing spend in Q2, which may impact short-term profitability.
Good morning, good afternoon and good evening, ladies and gentlemen. Welcome to the Samsonite Group 2026 first quarter results conference call. (Operator Instructions) Please note that this event is being recorded.
I would now like to hand the conference over to Mr. Alvin Concepcion, Vice President of Investor Relations. Thank you. Please go ahead, sir.
Thank you. Welcome to the Samsonite Group First Quarter Conference Call. On the call with us today are Kyle Gendreau, Chief Executive Officer; and Tom Pizzuti, Chief Financial Officer.
Before starting today's call, we would like to remind you that any forward-looking statements made on the call involve risks and uncertainties that are subject to the company's provisions as stated in the disclaimers in the company's press release and earnings announcement and that actual results can differ materially from those described in the forward-looking statements.
I will now turn the call over to Kyle.
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