Dustin Wei's questions to Samsonite Group SA (SMSEY) leadership • Q1 2025
Question
Dustin Wei inquired about Q2 sales trends, specifically asking about potential order pull-forwards in North America and whether Asia was experiencing broad-based weakness. He also asked for the outlook on Q2 EBITDA margin relative to Q1 and the prior year, considering seasonality.
Answer
Executive Kyle Gendreau stated there were no significant sales pull-forwards, noting that wholesale customers are buying cautiously rather than stocking up. For Asia, he described the trend as 'steady,' with positive growth in India and stable performance in China offsetting softness in markets like South Korea. Regarding margins, both Kyle Gendreau and Executive Reza Taleghani confirmed that Q2 EBITDA margin is expected to improve sequentially over Q1, consistent with normal seasonality, as sales volumes increase heading into the summer.