Goldman Sachs: due to the reduction of tariffs, SAMSONITE (01910) is expected to lower its earnings forecast for the current fiscal year, lowering its target price to 22 Hong Kong dollars.

08/04/2025

GMT Eight

Goldman Sachs released a research report stating that in the base case scenario, SAMSONITE (01910) will pass on 50% of tariff-related costs to consumers, meaning an average price increase of 5% this year. It is estimated that sales volume will decrease by 14%, resulting in a total year-on-year decrease in US sales of 9% (compared to the bank's previous forecast of a 1% decline). Therefore, the bank predicts that SAMSONITE's gross profit will decrease by $93 million year-on-year; gross profit margin will shrink by 3.4 percentage points, translating into a 13% year-on-year decline in EBITDA for the group in the 2025 fiscal year; and profits will decrease by 17% year-on-year. Goldman Sachs has lowered SAMSONITE's target price from HK$29 to HK$22.

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Goldman Sachs: due to the reduction of tariffs, SAMSONITE (01910) is expected to lower its earnings forecast for the current fiscal year, lowering its target price to 22 Hong Kong dollars.

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