B

• First quarter revenues were US$829.1 million, up 4.1% on a reported basis and up 0.4% on a constant currency basis⁽¹⁾ compared to the same period in the prior year
• Gross profit margin remained strong at 59.0% and adjusted EBITDA margin⁽²⁾ was 13.1% for the first quarter of 2026
• Generated adjusted free cash flow⁽³⁾ of US$27.3 million for the first quarter of 2026, up US$68.5 million over the same period in the prior year
• Announced a US$50 million share repurchase program to repurchase shares opportunistically based on market conditions and capital allocation priorities
• With progress on our strategic roadmap, we expect to deliver constant currency net sales growth in the low-single digit range in 2026

MANSFIELD, Mass. and HONG KONG, May 13, 2026 /PRNewswire/ — Samsonite Group S.A., (together with its consolidated subsidiaries, the “Company”, “Samsonite Group”, “our”, “us” or “we”; SEHK stock code: 1910), the world’s best-known and largest travel luggage company and a leader in global lifestyle bags, today published its results for the first quarter ended March 31, 2026.  Unless otherwise stated, all net sales growth rates are presented on a constant currency basis.

Commenting on Samsonite Group’s first quarter 2026 results, Mr. Kyle Gendreau, Chief Executive Officer, said, “We delivered positive reported net sales growth of 4.1% during the three months ended March 31, 2026 compared to the first quarter of 2025, and net sales grew 0.4% on a constant currency basis⁽¹⁾. Excluding net sales in the Middle East and India, the markets most affected by the conflict to date, our net sales increased by 1.6%⁽¹⁾ year-over-year in the first quarter of 2026, a sequential improvement from the fourth quarter of 2025, with all three core brands registering positive net sales growth on this basis.”

“We made solid progress executing on our strategic priorities to drive our next phase of growth. Supported by increased investments in marketing, digital, and selective store openings, as well as a strong portfolio of new and innovative products, our direct-to-consumer (“DTC”) channel and lifestyle bags category⁽⁴⁾ continued to outperform, with first quarter 2026 net sales growing by 4.2%⁽¹⁾ and 4.8%⁽¹⁾, respectively, year-over-year.”

“We are confident in our ability to execute on our strategic priorities and navigate through macroeconomic volatility to accelerate long-term growth. These priorities are to amplify and elevate awareness of our iconic, consumer-centric brands, be the clear winner in digital to further support multi-channel growth, seize white space opportunities in lifestyle bags, and continue to win with products that resonate globally.”

“Nearer-term, as we progress on our strategic roadmap and leverage our scale advantages in product innovation and marketing, we expect constant currency net sales to grow in the low-single digit range in 2026 – a sequential improvement compared to 2025. Relative to the first quarter of 2026, we expect adjusted EBITDA margin to also improve over the course of the year.”

“I take this opportunity to welcome our new TUMI President Luciano Rodembusch joining the team. With his extensive experience running significant retail and wholesale operations for luxury consumer brands, Luciano is well-positioned to lead the TUMI brand as it continues its growth as a global performance luxury brand.”

First Quarter 2026 Results

Net sales were US$829.1 million for the three months ended March 31, 2026, up 0.4%⁽¹⁾ compared to the first quarter of 2025. Excluding net sales in the Middle East and India (the markets most affected by the conflict in Iran to date), our net sales increased by 1.6%⁽¹⁾ year-over-year in the first quarter of 2026.  

• By region, year-over-year net sales growth sequentially improved in North America (-1.7%⁽¹⁾ in the first quarter of 2026 versus -2.8%⁽¹⁾ in the fourth quarter of 2025). Net sales continued to grow in Asia (+1.3%⁽¹⁾ in the first quarter of 2026; and +5.1%⁽¹⁾ when excluding net sales in the Middle East and India). Net sales growth was stable in Europe (+0.8%⁽¹⁾ in the first quarter of 2026 versus +0.9%⁽¹⁾ in the fourth quarter of 2025) and sequentially improved in Latin America (+4.7%⁽¹⁾ in the first quarter of 2026 versus -0.6%⁽¹⁾ in the fourth quarter of 2025).
• By brand, Samsonite net sales increased by 1.3%⁽¹⁾ (+1.4%⁽¹⁾ when excluding net sales in the Middle East and India) year-over-year, a sequential improvement compared to the 0.4%⁽¹⁾ year-over-year decline in the fourth quarter of 2025. TUMI delivered a third consecutive quarter of positive growth in the first quarter of 2026, with net sales increasing by 0.5%⁽¹⁾ (+1.1%⁽¹⁾ when excluding net sales in the Middle East and India) year-over-year. American Tourister net sales decreased by 1.6%⁽¹⁾ (+3.9%⁽¹⁾ when excluding net sales in the Middle East and India) year-over-year, a sequential improvement compared to a 3.4%⁽¹⁾ year-over-year decline in the fourth quarter of 2025.

Gross profit margin was 59.0% for the first quarter of 2026, which management believes is strong and reflects disciplined execution across the Company’s brands, channels, and product categories.

Operating expenses were managed with discipline as the Company focused on investing in marketing, digital, and selective store openings, which management believes are key to securing long-term brand growth opportunities.

• Marketing expenses increased by 40 basis points year-over-year to 5.7% of net sales in the first quarter of 2026, consistent with the strategy to increase investment in amplifying and elevating awareness of the Company’s iconic, consumer-centric brands to fuel future growth.
• Distribution expenses were up 210 basis points year-over-year to 34.3% of net sales for the first quarter of 2026, mainly due to inflation, selective new store openings, and higher outbound freight costs.
• General and administrative expenses remained well controlled, down 20 basis points year-over-year to 7.5% of net sales in the first quarter of 2026, reflecting management’s continued focus on cost discipline.

Adjusted EBITDA margin was 13.1% for the first quarter of 2026 compared to 16.0% for the first quarter of 2025, as the Company continued to invest in brand elevation and new store openings⁽⁵⁾ to support long-term growth, alongside inflationary cost pressures.

Adjusted net income⁽⁶⁾ decreased by US$15.4 million to US$36.5 million for the three months ended March 31, 2026 compared to the same period in the prior year. Adjusted basic⁽⁷⁾ and diluted⁽⁷⁾ earnings per share were US$0.026 and US$0.026 per share, respectively, for the first quarter of 2026 compared to US$0.037 and US$0.037 per share, respectively, for the first quarter of 2025.

Regarding the balance sheet, management believes it remains healthy and the Company is well positioned to capitalize on anticipated strong long-term growth opportunities. Net debt was US$1,070.1 million⁽⁸⁾ as of March 31, 2026, a reduction of US$28.8 million from December 31, 2025.

Adjusted free cash flow significantly improved to an inflow of US$27.3 million for the first quarter of 2026 compared to an outflow of US$41.2 million in the first quarter of 2025, primarily driven by favorable changes in net working capital year-over-year.

Outlook

Commenting on the outlook, Mr. Gendreau said, “We are confident in the long-term tailwinds supporting our business, including continued growth in travel demand, as well as our ability to execute on our strategic priorities to accelerate growth. Further, as the industry leader, we expect to benefit significantly from renewed consumer demand for luggage and travel bags over the next several years, following a recent period of more moderate growth after the ‘revenge travel’ surge in 2021-2023.”

“Nearer-term, we expect momentum from the first quarter of 2026 to continue, with the constant currency net sales growth rate in the second quarter of 2026 to be approximately similar to the first quarter. As we progress on our strategic roadmap and leverage our scale advantages in product innovation and marketing, we expect constant currency net sales to grow in the low-single digit range in 2026 – a sequential improvement compared to 2025. These views assume the impacts of the conflict in the Middle East do not materially worsen.”

“We believe that our scale advantages, supplier relationships, and ability to effectively navigate uncertain macroeconomic conditions and a higher oil price environment through our mitigation actions, will continue to enable us to maintain our strong gross margin profile in 2026 and beyond.”

“We remain focused on investing in marketing to secure long-term brand growth opportunities. Therefore, we expect 2026 marketing spend to increase as a percentage of net sales to approximately 6.5%, with peak spend of approximately 8% as a percentage of net sales in the second quarter of 2026, ahead of the summer travel season; however, we maintain flexibility to adjust this depending on market conditions.”

“Relative to the first quarter of 2026, we expect adjusted EBITDA margin to improve over the course of the year as we enter seasonally stronger sales periods, aim to improve net sales growth, and take action to mitigate cost pressures.”

“We remain committed to returning cash to shareholders while continuing to invest in growth, deleverage the balance sheet, and evaluate strategic acquisitions. In line with our commitment, we declared a total US$140 million dividend on March 19, 2026 with a payment date of July 15, 2026 to shareholders of record on June 22, 2026. We have also announced a new US$50 million share repurchase program on May 13, 2026, allowing us to repurchase shares opportunistically based on market conditions and capital allocation priorities.”

Update on the Potential Dual Listing in the United States

Mr. Gendreau commented, “We are completing preparation for a potential dual listing of the Company’s securities in the United States. Our Board of Directors and management firmly believe a dual listing will enhance shareholder value creation over time. We are continuing to monitor macroeconomic and market conditions carefully, and we intend to complete our dual listing in 2026.”

2026 First Quarter Results – Conference Call for Analysts and Investors:  

Date:  Wednesday, May 13, 2026

Time:  08:30 New York / 13:30 London / 20:30 Hong Kong

Webcast Link:  https://edge.media-server.com/mmc/p/vu539oih

Teleconference Dial-in Registration Link:

https://register-conf.media-server.com/register/BIb7a57a43d18d4b7ca2643a0140b27dd5

(Dial-in details will be sent to registrants by email after registration)

Audio Webcast Replay Link:  https://edge.media-server.com/mmc/p/vu539oih

Key Financial Highlights for the First Quarter Ended March 31, 2026