Samsonite First-Half Profit Falls 23.1% to $90.9 Million; Net Sales Up 1.14%
Samsonite reported first-half net profit of $90.9 million, down 23.1% year on year, with net sales of $1.681 billion, up 1.14%. Gross margin rose to 60.5%, including a $16.6 million US tariff refund; excluding that, margin was 59.5%, up 30 basis points. The company did not declare an interim dividend. Sales were hurt by Middle East conflicts, particularly in North America, while a weaker US dollar and growth in DTC and lifestyle categories supported results.
Samsonite reported interim results for the six months ended June 30. Profit attributable to shareholders was $90.9 million, down 23.1% year on year. Basic earnings per share were $0.066, and no interim dividend was declared. Net sales for the period were $1.681 billion, up 1.14% year on year. The weaker US dollar year on year had a positive impact on the reported net sales improvement, which also benefited from higher net sales in the DTC channel, the Samsonite brand, and the lifestyle luggage category. Net sales during the period were adversely affected by ongoing conflicts in Iran and other parts of the Middle East, which have caused inflationary pressures, leading to weak travel demand and subdued consumer confidence, particularly in North America.
Gross margin was 60.5%, up 1.3 percentage points year on year. In the second quarter of 2026, following a US Supreme Court ruling that revoked certain tariff measures previously imposed under the International Emergency Economic Powers Act, the company recognised a $16.6 million benefit from US tariff refunds in cost of sales. Excluding the tariff refund benefit, gross margin was 59.5%, an improvement of 30 basis points from the same period in 2025, reflecting the company's disciplined execution across brands, channels, and product categories.