(Corrects date of earnings to March 19, instead of March 18)
March 9 Shares in Samsonite International SA
could rise 20 percent to 30 percent in the next year
as people from China and other Asian countries take more trips
abroad, and perhaps spend more on luggage, Barron's said in its
March 10 edition, citing analysts.
The Hong Kong-listed company's stock rose 18 percent last
year, six times the market's gain, but still trade at just 16.9
times projected 2014 profit, below the 20 multiple for rival
Tumi Holdings Inc, the newspaper said.
Samsonite reemerged as a public company in 2011, with
business operations in Hong Kong and an office in Luxembourg.
While known for its American Tourister brand, the
104-year-old company gets 40 percent of its roughly $2 billion
of annual revenue in Asia, according to the newspaper.
That could position it to benefit from increases in personal
wealth, longer vacation periods and more-relaxed visa
restrictions, the newspaper said.
Longer-term trends may also favor the company. Chinese
citizens, only 3.5 percent of whom now have passports, are
expected to double their trips abroad to 200 million by 2019,
and Asia is expected to account for half of global air traffic
by 2030, the newspaper said.
Samsonite is expected to post full-year 2013 results on
March 19, and analysts on average expect profit of 16 cents per
share on revenue of $2.08 billion, up more than 17 percent, the
The company's other brands include the mid-priced Samsonite
brand, the high-end Hartmann, and High Sierra.
Shares closed last week at HK$21.05.
(Reporting by Jonathan Stempel in New York; Editing by Rosalind