August 30, 2018 / 2:03 AM / 22 days ago

Samsonite says strong Tumi boosts H1 sales; shares rise

HONG KONG, Aug 30 (Reuters) - Luggage maker Samsonite International SA posted a 16.6 percent growth in first-half net sales, helped by strong performance of its high-end Tumi brand, sending its shares up 8 percent on Thursday.

The world’s largest luggage firm said late on Wednesday its first-half net sales rose to $1.85 billion from $1.59 billion a year earlier.

Shares of Samsonite, which have been under pressure since May after a short-seller attacked its accounting practices, rose as much as 8.5 percent to HK$31.80, their highest since July 30.

Its then CEO Ramesh Tainwala resigned less than a week after the attack that involved entities owned by his family, and was taken over by finance chief Kyle Gendreu. (Reporting by Donny Kwok; Editing by Gopakumar Warrier)

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