Samsonite International S.A.

We expect sales declines in the first half of 2019 to subside in the back half leading to flat revenue growth for the full year as global economic headwinds have weakened many of the company's key markets. The company's performance has been particularly affected in the U.S. and China due to the escalating trade tensions between the two countries. The increased uncertainty around the timing and outcome of trade negotiations has resulted in greater caution among U.S retailers, leading them to manage inventory levels more closely, as well as reduced tourist arrivals in the U.S. and weaker consumer sentiment in Asia. Other global issues also affected performance, including geopolitical tensions in Latin America, protests in France, and Brexit uncertainty. Overall,

...We expect sales declines in the first half of 2019 to subside in the back half leading to flat revenue growth for the full year as global economic headwinds have weakened many of the company's key markets. The company's performance has been particularly affected in the U.S. and China due to the escalating trade tensions between the two countries. The increased uncertainty around the timing and outcome of trade negotiations has resulted in greater caution among U.S retailers, leading them to manage inventory levels more closely, as well as reduced tourist arrivals in the U.S. and weaker consumer sentiment in Asia. Other global issues also affected performance, including geopolitical tensions in Latin America, protests in France, and Brexit uncertainty. Overall, these headwinds resulted in a net sales decline of approximately 6% in the first quarter of 2019 and will likely result in further low-single-digit declines in the second quarter partially due to the company lapping a very strong...

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