Samsonite Posts Strong 2Q Performance but Expects Pace to Slow, Our Outlook Is Unchanged
With this being the first release of results following shortseller Blue Orca's report, we believe Samsonite's decent all-round second-quarter performance, with operating profit up 29% year over year, should appease most investor concerns although CEO Kyle Gendreau's cautious optimism points to some headwinds in the third quarter from trade war uncertainty. Sales growth is running ahead of our full-year forecast but the firm expects second-half pace to slow.We make only minimal adjustments and o...
Samsonite International is active on the travel luggage market. Co. is engaged in the design, manufacture, sourcing and distribution of luggage, business and computer bags, outdoor and casual bags, and travel accessories throughout the world, primarily under the Samsonite® and American Tourister® brand names and other owned and licensed brand names. Co. sells its products through wholesale distribution channels and through Co.'s operated retail stores. Co.'s principal luggage wholesale distribution customers are department and specialty retail stores, mass merchants, catalog showrooms and warehouse clubs. Co. sells its products primarily in Asia, Europe, North America and Latin America.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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