Travel light

14 November 2018 By Pete Sweeney Follow @petesweeneypro

Luggage giant Samsonite said mainland sales fell 5 pct last quarter, blaming trade tension and consumer anxiety. Travel website Ctrip is now more cautious, while peer Tongcheng-Elong shrank its IPO. The gloom will globe-trot, including to the planned market debut for Club Med.

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Luggage maker Samsonite on Nov. 13 reported a 30 percent increase in net profit, to about $80 million, on a 3.2 percent rise in net sales, to $945 million, for the quarter ending Sept. 30.

Sales fell slightly in the U.S. market and dropped 4.8 percent in mainland China in dollar terms, but were offset by strong growth in other Asian markets, including Japan, Hong Kong and India.

Shares in Chinese travel website Ctrip have fallen about 26 percent since it predicted on Nov. 7 that revenue growth would flatten for the rest of 2018.

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