Samsonite International OTC ( (SMSOF) ) has released its Q4 earnings. Here is a breakdown of the information Samsonite International OTC presented to its investors.
Samsonite International OTC, a leading global luggage manufacturer, specializes in travel and lifestyle products, known for its innovative designs and strong brand portfolio. The company’s 2024 earnings report highlights a challenging year with a slight decline in net sales by 2.5% to $3.59 billion, attributed to softer consumer sentiment and increased competition, particularly in India. Despite these challenges, Samsonite maintained a strong gross profit margin of 60.0%, supported by disciplined promotional activities and brand elevation investments. Operating profit decreased by 15.4% to $629.3 million, while adjusted EBITDA fell by 3.7% to $683.0 million. The company continued to expand its direct-to-consumer channels, contributing to a 2.7% increase in DTC net sales. Looking ahead, Samsonite remains optimistic about the growth in global travel and tourism, expecting steady demand for its products, and plans to focus on brand elevation and product innovation to drive future growth.
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