Samsonite International S.A. reported sales on a currency-neutral basis fell 7.6 percent for backpack brand Gregory and fell 48.3 percent for High Sierra in the three months ended March 31 due primarily to COVID-19 headwinds, especially in travel and tourism.
On a reported basis, Gregory’s sales were $16 million, down 7.4 percent from $17.3 million in the year-ago period. High Sierra’s sales were $6 million, down 49.4 percent from $11.8 million in the year-ago period.
Kyle Gendreau, Samsonite CEO, didn’t address those two brands specifically, but he did say that the coronavirus disrupted business globally in the period and should continue impacting sales for the rest of the year.
“While we remain committed to delivering superior products and exceptional service to our customers, the near-complete halt in travel and tourism worldwide has adversely affected the group’s performance in the first quarter of 2020 and is expected to continue to impact our business for the remainder of 2020,” he said.
More information on Samsonite’s results is available here.
Photo courtesy High Sierra
