--- title: "Daiwa expects Samsonite's revenue decline in the third quarter to narrow, with a target price slightly raised to 16 yuan" description: "Daiwa's research report indicates that Samsonite's revenue decline in the third quarter will narrow to 1.4%, in line with management guidance. It is expected that Tumi's performance will improve, whil" type: "news" locale: "en" url: "https://longbridge.com/en/news/261165090.md" published_at: "2025-10-15T02:09:47.000Z" --- # Daiwa expects Samsonite's revenue decline in the third quarter to narrow, with a target price slightly raised to 16 yuan > Daiwa's research report indicates that Samsonite's revenue decline in the third quarter will narrow to 1.4%, in line with management guidance. It is expected that Tumi's performance will improve, while American Tourister remains weak. Adjusted EBITDA profit margins will be under pressure, with third-quarter gross margins and EBITDA profit margins falling to 58.6% and 17%, respectively. The outlook for the Indian market is cautiously optimistic, believing that the dual listing plan in the United States is still progressing. The earnings per share forecast for 2025 has been lowered by 2%, while the forecast for 2026 has been raised by 3%; maintaining a "Hold" rating, with a slight increase in the target price to 16 yuan According to a report by Daiwa, due to the low base effect, it is expected that Samsonite (01910.HK) will see a narrowing decline in revenue of 1.4% in the third quarter, in line with management guidance. The firm also anticipates an overall improvement in Tumi's performance, while American Tourister remains the weakest-performing brand. Due to changes in regional structure and operational deleveraging, the firm expects adjusted EBITDA profit margins to remain under pressure; it forecasts that the gross profit margin and adjusted EBITDA profit margin will decline by 0.7 and 0.6 percentage points year-on-year, to 58.6% and 17%, respectively. Regarding the turnaround of the Indian business in 2026, the firm holds a cautiously optimistic view, as the major local competitors have completed significant restructuring, which is expected to lead to more rational market competition. The firm also believes that the dual listing plan in the United States is still progressing, but it may not be realized until mid-2026 at the earliest. The firm has lowered its earnings per share forecast for Samsonite in 2025 by 2%, but based on a potentially stronger recovery in the Asian and North American markets, it has raised its earnings per share forecast for 2026 by 3%; it maintains a "Hold" rating due to the current lack of catalysts and low visibility. However, the firm believes that with continued support from global travel demand, a stronger recovery is expected in 2026; the target price has been slightly raised from 15 to 16 HKD ### Related Stocks - [SMSEY.US - Samsonite](https://longbridge.com/en/quote/SMSEY.US.md) - [01910.HK - SAMSONITE](https://longbridge.com/en/quote/01910.HK.md) ## Related News & Research | Title | Description | URL | |-------|-------------|-----| | 10 年前投資 Shopify 的$100 今天會值多少 | Shopify（納斯達克代碼：SHOP）在過去十年中實現了令人印象深刻的年化回報率為 50.21%，超出市場 36.78%。目前市值為 1594.4 億美元，十年前對 SHOP 股票的 100 美元投資現在的價值為 6023.31 美元，突 | [Link](https://longbridge.com/en/news/276485214.md) | | 一文讀懂 2026 年至今的全球市場：什麼在漲？美股為何不行？這種趨勢會持續嗎？ | 高盛報告揭示 2026 年市場新風向：週期性資產上漲仍有空間；但 AI 等熱門主題估值過高，高波動或成為未來常態；美元將持續疲軟；建議警惕高估值板塊，分散股票持倉、保持健康的非美敞口（包括新興市場），以及較長期限指數波動率的做多頭寸。 | [Link](https://longbridge.com/en/news/276406606.md) | | 安德森斯｜10-K：2025 財年營收 110 億美元不及預期 | | [Link](https://longbridge.com/en/news/276269991.md) | | World Kinect 第四季度財報：投資者需要知道的事項 | World Kinect (NYSE:WKC) 於 2026 年 2 月 19 日公佈了第四季度財報，實際每股收益（EPS）為 0.3 美元，低於預期的 0.47 美元，差距為 36.17%。收入較去年減少了 7.32 億美元。在前一個季度 | [Link](https://longbridge.com/en/news/276379810.md) | | Skandinaviska Enskilda Banken AB publ 在 Coupang, Inc. $CPNG 持有價值 728 萬美元的股票頭寸 | 斯堪的納維亞銀行（Skandinaviska Enskilda Banken AB publ）在第三季度將其在 Coupang, Inc.（紐約證券交易所代碼：CPNG）的持股增加了 203.4%，目前持有 226,000 股，價值 728 | [Link](https://longbridge.com/en/news/276439252.md) | --- > **Disclaimer**: This article is for reference only and does not constitute any investment advice.