Samsonite net sales steady, recommends dividend amid 2024 headwinds

Samsonite Group S.A. (HKEX: 1910) announced its consolidated final results for the year ended December 31, 2024, reporting net sales of $3.5886 billion, a 2.5% decrease from 2023 but relatively flat on a constant currency basis. The company's performance reflects softer consumer sentiment and increased promotional activities, offset by strong global travel trends. Despite these headwinds, Samsonite's industry-leading brand delivered steady growth, mitigating declines in other brands like TUMI and American Tourister. Samsonite's Board recommends a dividend distribution of $150 million for 2025, demonstrating confidence in its financial position and future prospects. In a separate announcement, the company declared a cash dividend of USD 0.1074 per share, payable on July 15, 2025, after shareholder approval on June 3, 2025. To enhance shareholder value, Samsonite intends to pursue a dual listing of its securities in the United States. Furthermore, the company recently changed its name from Samsonite International S.A. to Samsonite Group S.A., better reflecting the company's portfolio of iconic brands. The company has maintained a strong profitability, solidifying its resilient business model.