SAMSONITE (01910) reported better-than-expected performance in the third quarter, with revenue declining 0.6% year-on-year to $873 million, slightly above Daiwa's forecast of $865 million and market expectations of $861 million. The biggest positive surprise was a 0.3 percentage point year-on-year improvement in gross margin to 59.6%, significantly exceeding expectations. Net profit for the quarter reached $59 million, marginally higher than Daiwa's estimate of $57 million but below the market consensus of $62 million. Daiwa has maintained its "Hold" rating on the stock.
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